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Price Ray MT4

4.5

Price Ray indicator is a utility that will enhance 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 till the first candle. 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.

Product Links:
User Guide
MT5 version

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

  • Bid, Ask or Last Price.
  • Current spread.
  • The range and the body size for a defined time-frame candle in pips/points -> the range as HL (High-Low) and the body size as OC (Open-Close).
  • The Candle Timer: a per second update of the time left for candle close (selected time-frame).

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 time-frame. I have illustrated a strategy to trade based on the trend of a higher timeframe candle in the User Guide.

I have included a comprehensive Candle Timer with Price Ray. Candle timer 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.
  3. The indicator will show any errors in the "Journal" and "Experts" tabs in the terminal/toolbox (Ctrl+T) window. Please check in case you encounter any errors.



Reviews 2
Payman
609
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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Payman
609
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 -
3867
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 -
3867
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 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.