TheStrat Monitor MT5

5

If you've not already learnt about The Strat trading strategy, go google it now. I promise it won't be a waste of your time, and you will likely learn some new tricks whether you use it or not.

OK, so now you know what TheStrat is, you will be able to understand what this indicator can do for you.

Key Features

In short, the Indicator will:

  • Show Timeframe Continuity for all supported timeframes
  • Supports two timeset views, Day trader and Swing trader
  • Show when Full Timeframe Continuity is in place for any 4 consecutive timeframes
  • Show the current candle state for each timeframe
  • Show the current pattern, if any, on all timeframes
  • Shows both In-force and Actionable patterns
  • Update every 5 seconds (configurable from 1 second)
  • Allows you to click on the panel to open a chart on the selected symbol and timeframe
  • You can choose what chart template will be used to open charts
  • You choose what groups and symbols in those groups to display

The indicator displays a snapshot overview of all the key Strat elements , Timeframe continuity, current patterns, and current candle states, of any symbol supported by your broker. It does this for all supported timeframes so you can see exactly what's happening right now in the market.

You can group the symbols as you wish and choose the title of the buttons relating to each group. Having all the symbols of a particular type on screen at the same time allows you to spot similarities across the group, aiding your analysis.

More information on the Configuration File can be found here: https://www.mql5.com/en/blogs/post/746142

If a symbol is currently un-tradable, market closed, broker disabled etc. then the symbol panel will show the latest available data but gray out the display. A small LED light icon also shows this.

SETTINGS

SymbolNameDisplayMode

Choose from Name, Description or Both for the caption of each symbol panel.

Timeset

Sets the default timeset view for the indicator. Choose from Day Trader or Swing Trader. You can change this setting at any time by clicking the button on screen.

The Day Trader view shows the M5, M15, M30, H1, H4 and D1 timeframes on each panel whereas the Swing Trader view shows H1, D1, W1, MN1, Q and Y.

ShowStratIcons

When true, the panels display Icons for the continuity direction, current candle states, patterns and overall FTFC.

HideNeutralSymbols

When true, any symbols which don't have an FTFC direction are hidden.

DisplayColumns

How many columns of panel do you wish to display in the chart.

ShowMouseTracking

When true, an outline is drawn round the symbol panel that the mouse is currently over.

RefreshRateSeconds

The default is 5 which simply means the data for each panel is updated every 5 seconds. The value must be a positive integer, so something greater than 0

ChartTemplateFilename

The filename of the template to use when opening a chart. If the template given cannot be found, the default template will be used.


BackgroundColour

BullishColour

BearishColour

NeutralColour

Choose the colour you wish to use from the standard MetaTrader selection.



Reviews 1
renetrader07
135
renetrader07 2023.11.23 18:19 
 

Great help for filtering markets to improve probability

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Markets really love round numbers and they often act as support in a falling market, or resistance as price rises. This indicator is designed to draw price levels at Round values. It does this automatically, but you also have the option to override that and determine the levels you wish to see. A round level can be as simple as steps of 10, so 10, 20, 30 etc or if you are working with Forex, maybe you want to see changes at 0.1 or 0.01. The indicator draws two classes of line, Major and Minor,
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Average True Range (ATR) is a commonly used indicator that measures the amount of movement in price over a set duration. However the value it gives is not defined within any sort of boundary, which makes using it for anything other than stop loss or take profit calculations, almost impossible. This indicator is your standard ATR indicator, but we have introduced percentile demarcations so you can see the extremes. You can choose between Percentiles and something we call Split Medians Percentile
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Range Exhaustion occurs when price meets or exceeds the expected range for the current period. At these levels, price starts to lose its momentum relative to earlier in the period, so its a good point to make sure you are not taking new positions. This indicator will show you where this is likely to happen on your chart, showing levels for Daily, Weekly and Monthly periods. When you see price exceeding these exhaustion levels, it's telling you that the momentum behind the move is very strong an
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renetrader07
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renetrader07 2023.11.23 18:19 
 

Great help for filtering markets to improve probability

Robert Gerald Wood
4968
Reply from developer Robert Gerald Wood 2023.11.23 18:20
Thanks for the review, and very happy you like the indicator.
Reply to review