AV Grid MT5

"AV Grid MT5" is an indicator for MetaTrader 5, which automatically displays round numbers as horizontal lines and a sensible period separation.

Round prices can be used as support and resistance in trading.

It is an improvement on the "Grid" setting, which also draws a grid on the chart.


Improvements:

- Round levels instead of arbitrary positioning of the horizontals

- Structure by highlighting all x lines (main lines, 2 or 5 makes sense)

- Vertical lines are each in two periods (main and intermediate lines) instead of arbitrary positioning

- Grid color and style of the lines are freely selectable (2 x horizontal + 2 x vertical)

- "Background" also causes the position label to be displayed (right and bottom)

- Tooltips of the lines can be switched on and off and show the position (price or date/time)


Abbreviations:

- Y10  = 10 years
- MN6 = 6 months
- W    = 1 week
- D     = 1 day
- H8   = 8 hours


The indicator calculates its own horizontal line spacing, so you don't have to constantly adjust them. A big advantage in my opinion.

By using the same foreground and background color in the chart with "Background" setting of all 4 line styles = false, you can create your own plain chart axes.

Please report bugs.