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The only indicator you will ever need on chart.
Extend Rectangles and place Alerts
Mark your supply demand zones with extended rectangle and draw support resistance lines with extended trendline.
MT4 Rectangle extender indicator will simplify and make it easier for you to analyze markets and stay notified about important events. Rectangles and trendlines can be extended into future. When you extend rectangle or trendline the action buttons will be shown (Alert, Engulf, Risk Reward). You will receive alert and mobile push notification when price comes into rectangle or when engulf happens.
Smart Rectangle Extender or Zone Extender
Rectangles and Trendlines will be extended into future with one click. Rectangle size, name and prices will be displayed around rectangle. You can also click on FLAT button to get horizontal flat trendline.
Risk Reward Ratio Calculation
Trader can use risk reward calculation to decide if trade is profitable enough. You can manually drag horizontal line and risk reward with pip count will be displayed as text on horizontal line.
Price Alert and Engulf Alert
Price Alert and Engulf detection in Rectangle extender are supported with MT4 mobile push notifications. Stay notified about market events. Phone alert or smartphone alert for price level alert
Indicator customization
Trader can customize MT4 rectangle extender indicator with input properties. You can change colors, font size, element display position and some other features.
Risk reward ratio calculation
You can enable Risk Reward (RR) calculation with click on button Buy RR or Sell RR. Horizontal line will be displayed, and it will show Risk Reward ratio and pip distance betwen extended rectangle and horizontal line. You can select and move horizontal line to get your risk reward calculation information. You can hide Risk Reward line with click on button.
Input properties
Trading box Rectangle extender can be configured and customized with help of Input properties. You can find explanation for each input parameter below.
Input property Description
show_prices
Show or hide prices on the right side of rectangle or trendline. If you set to false, then prices will not be shown.
show_buttons
Show or hide buttons on the right side of selected rectangle or trendline. If you set to false, then buttons will not be shown.
show_rectangle_pip_size
Show or hide rectangle pip size.
fill_extended_rectangle
When you extend rectangle, it will be filled with background color if variable is set to true.
use_extended_rectangle_colors
This function will automatically change rectangle color if it will be above or below bid price.
rectangle_color_above_price
If variable use_extended_rectangle_colors is set to true, then rectangle above bid price will be that color.
rectangle_color_below_price
If variable use_extended_rectangle_colors is set to true, then rectangle below bid price will be that color.
extend_trendlines
We can disable trendline extender function if we set variable to false.
extended_trendline_color
We can set default color of extended trendline.
extended_trendline_style
We can set default line stlye of extended trendline.
RR_text_alignment
We can display Risk Reward ratio calculation on left or right side of chart.
font_size
We can set text font size.
font_color
We can set text font color.This tool have functions like risk reward ratio calculation, custom text Alert, line price alert, pip counter, pip indicator, risk reward tool. This extended rectangle can be used like color level or color levels advanced rectangle tool. It can be used as order block rectangle alert. Many traders use it as consolidation box for breakout alert or break alert. Trend alert and Line alert is very useful. It works nicely with Forex Trade Manager, Trade Assistant, naked forex, Easy Trade Manager, Draw Horizontal Ray, Smart Ruler, Order Block Breaker, Quick Order Tool.
create the Target1, Target2 and Target3 with position size.
Alert on Entry, target and stop loss.
Bidirectional trade option
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if the trade hits stoploss and reverse the trade again with same Risk reward option.
Reference:
https://primeforexindicators.com/forex-trading-box-rectangle-extender-mt4-indicator/