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Price Ray MT4

4

Price Ray indicator is a utility that will improve the way you trade. Primarily, it shows the Bid, Ask or Last price as a line ray which beams till the current candle, last visible chart candle or extended to all candle bars. The enhanced features in this indicator provide information in an area where you focus most, right next to the current candle. You can select text to be shown above or below the Price ray. The indicator is fully customizable, allowing it to fit any strategy requirements.

The indicator allows the display of the following text above or below the price ray. Below are the options:

  • Bid, Ask, Last Price (server feed required)
  • Current spread (in pips or points)
  • Bid price with spread
  • Candle Range (High-Low & Open-Close) » The range and the body size for a defined time-frame candle in pips -> the range as HL (High-Low) and the body size as OC (Open-Close).
  • Candle Timer (actual or as percentage)
  • Option not to show any of the above

The indicator allows customisation of Line (extension, style, width and colour), Dot (enabled or not, dot size, shifting the dot and line ray to the left) and the Text (font, size and colour). You can choose whether the colour of Price Ray is constant, or it changes based on trend. Also, you can select the bullish or bearish colour for the trend.

The ideal way to determine a trend is to look at the chart with trend lines drawn on the highs and lows. Added to this, the strategy may include, to determine whether the current price is above or lower to opening price for a higher time-frame. Price Ray indicator changes the line ray colour based on bullish or bearish candle body of a selected timeframe. Price Ray also shows Range (high & low) with open price for trend target timeframe. I have illustrated a strategy to trade based on the trend of a higher timeframe candle in the User Guide.

Price Ray includes a comprehensive Candle Timer which displays remaining seconds to the close of a time-frame candle, either above or below a Price Ray. It triggers a notification alert irrespective of the selection of candle timer as a text. The indicator announces an alert at specified seconds before close of the current candle. You can select the alert as a pop-up or a bird chirping sound. There is an option to select from a list of notification sounds (Canary, Cardinal, Meadowlark, Owl, or a Rooster). I have included a button to enable or disable the notification sound. You may decide to disable the sound alert temporarily. It is also useful when the indicator is being used in multiple charts.

Please note:
  1. The display of "Last Price" depends on the availability of price feed (data) from the server.
  2. The indicator changes the Chart Properties (Function key - F8: Common tab) for enabling and disabling the default selected Price to be shown as the Line ray. You can change it when needed.
Product Links:
User Guide
MT5 version


Reviews 3
Payman
663
Payman 2022.12.27 09:39 
 

cool and neat tool . thanks for sharing. may i suggest some features please? if it have option to show both ask and bid in same time , so spread would be visually visible. also candle time percentage would be nice. overall really nice tool . thank you

Shifu987 Jingshen
190
Shifu987 Jingshen 2022.12.21 21:19 
 

Good Basic Candle Timer, Price Display, Very Clear and Simple. Additional Options such as Location of Price on Screen, Location of all options at different locations on screen, .... if chart shift is not wanted then price is in the way, want to move it somewhere else. anyway very good.

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Monitoring your trades over time helps you build up your account balance and shows when you miss your goals. Viewing the closed trades of a symbol on the chart can help you adjust your strategy for better results. Maintaining a trade book allows you to record the applied strategy and note the reason for taking each trade. It helps you to evaluate and refine strategies based on its profitability. A possibility to download the Account history as a text file with delimited fields, allows upload to
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651039578 2024.01.21 12:47 
 

超实用指标,但发现2个问题:1,日线之下周期波幅可否设置为上一个周期;2,一个BUG,经过休市日后启动软件,状态栏、工具栏的一些功能失效,而且图表卡顿、延时严重。

我用图片表述一下,但今早加载指标,工具栏、状态栏失效情况并未出现,我用红框标出。哎,无法贴图。

在使用了2.2版本后,经过休市后重新启动,图表一切正常(功能、状态栏失效情况未在出现),感谢你的更新,感谢这一功能突出的指标。

Keni Chetankumar Gajanan -
8761
Reply from developer Keni Chetankumar Gajanan - 2024.01.26 05:10
感谢您的点评。 1. Price Ray 已被编程为显示当前蜡烛的价格信息(低于和高于价格线)。我将研究您的建议,以在将来的更新中加入一个选项以显示以前的蜡烛信息。谢谢你的建议。 2. 我要求您检查当您在图表上只有价格射线指示器时问题是否仍然存在。Price Ray 更改的唯一 Chart 属性是启用和禁用默认选定的价格(图表上的买入价或卖出线)显示为 Price ray。 更新:我已经用新版本(2.2)更新了 Price Ray。 我添加了选择上一期间或当前期间范围的功能。更新:我更改了代码以提高 Price Ray 速度以及价格线上方和下方的信息(版本 2.3)
Payman
663
Payman 2022.12.27 09:39 
 

cool and neat tool . thanks for sharing. may i suggest some features please? if it have option to show both ask and bid in same time , so spread would be visually visible. also candle time percentage would be nice. overall really nice tool . thank you

Keni Chetankumar Gajanan -
8761
Reply from developer Keni Chetankumar Gajanan - 2023.01.05 07:17
Hi #Payman,
Thank you for the review and suggestions. I have incorporated them in version 1.7, already available for download. I hope you find it useful. Thanks
Shifu987 Jingshen
190
Shifu987 Jingshen 2022.12.21 21:19 
 

Good Basic Candle Timer, Price Display, Very Clear and Simple. Additional Options such as Location of Price on Screen, Location of all options at different locations on screen, .... if chart shift is not wanted then price is in the way, want to move it somewhere else. anyway very good.

Keni Chetankumar Gajanan -
8761
Reply from developer Keni Chetankumar Gajanan - 2022.12.24 08:28
Thanks #Shifu987 for your review. I agree that shifting end of chart is a requirement for ‘Price Ray’, for it to be useful. If your need is to display price at any location on screen or window, I will suggest that you also consider downloading 'Current Price MT4' (https://www.mql5.com/en/market/product/80475)
Reply to review
Version 2.5 2024.02.28
- Minor fixes and improvements.
Version 2.4 2024.02.09
» Fix: Handles candle/bar gap at Open for some symbols (e.g. Gold)
Version 2.3 2024.01.26
- Code improvements » Improved speed for display of Price Ray and information
Version 2.2 2024.01.23
Added Functionality:
- Range Display on chart » Choose to show range for previous or current period
Version 2.1 2024.01.04
- Range fix -> Holidays
- Pips of Points -> HL and OC
Version 2.0 2023.12.05
- Added Functionality:
» Show a current range for a selected timeframe on the chart
» Show spread as pips or points
» Added the button to show or hide range
» Changed the button for Candle Timer. Possible to align buttons vertically or horizontally
» Possible to extend or shorten price ray upon clicking the line or dot
Version 1.8 2023.07.14
- Fixes and code improvements
Version 1.7 2023.01.05
- Functionality Option Added -> Show as Ray -> Bid and Ask Price - shows both Bid and Ask price for spread to be seen visually (suggested by Payman)
- Functionality Option Added -> Text to be shown -> Candle Timer: Time left for close (%) - shows percentage of time left for candle close (suggested by Payman)
- Minor fixes and improvements.
Version 1.6 2022.12.01
- Option to move text display away from the dot
- Minor fixes and improvements
Version 1.5 2022.09.14
- Minor fixes and improvements.
- Changed check for “Notify seconds before end time” to a minimum of 5 seconds
Version 1.4 2022.04.16
- Fix : Calendar Timer
Version 1.3 2022.02.07
- Added a Notification Toggle button to enable or disable the Candle Timer Sound alert.
- Changes of input parameters in the Properties window (Dot and Line shift, Toggle button location)
- Minor fixes and improvements.
Version 1.2 2022.01.19
- Added an option to select Notification alert sound (Canary, Meadowlark, Cardinal, Owl, Rooster).
- Changes of input parameters in the Properties window (selection of Notification Sound).
- Minor fixes and improvements.
Version 1.1 2021.12.24

- Candle timer updated each second and with Notification alert as Pop-up or bird chirping sound.
- Inclusion of Last Price shown as the Price Ray and in the selection of text.
- Changes of input parameters in the Properties window.
- Minor fixes and improvements.