The article deals with detecting and indicating Support/Resistance Levels in the MetaTrader 4 program. The convenient and universal indicator is based on a simple algorithm. The article also tackles such a useful topic as creation of a simple indicator that can display results from different timeframes in one workspace.
This article describes the process of creating a simple script for detecting the support/resistance levels. It is written for beginners, so you can find the detailed explanation of every stage of the process. However, though the script is very simple, the article will be also useful for advanced traders and the users of the MetaTrader 4 platform. It contains the examples of the data export into the tabular format, the import of the table to Microsoft Excel and plotting the charts for the further detailed analysis.
The article compares the time and results of Expert Advisors' optimization using genetic algorithms and those obtained by simple search.
Pivot point is a line in the price chart that shows the further trend of a currency pair. If the price is above this line, it tends to grow. If the price is below this line, accordingly, it tends to fall.
The article describes the use of technical indicators in programming on MQL4.
The article deals with programmed tracking of events in the МetaТrader 4 Client Terminal, such as opening/closing/modifying orders, and is targeted at a user who has basic skills in working with the terminal and in programming in MQL 4.
The article considers the necessity and general principles of developing a bundled program that would contain both an Expert Advisor, a script and an indicator.