Mid Line Indicator
The Mid Line Indicator is preferably used for placing limit orders at levels that are far from the market on M1 period.
Hence it is a great tool for risk management.
- You can set a decimal percentage to indicate the level. 50% is the default.
Look Back Period
- Determine how far back in historical bars you want the Mid Line Indicator to look into.
Zig Zag Parameters (Depth, Deviation, Backstep)
- Set the parameters for the Zig Zag indicator used for Mid Line Indicator.
Global variables written
- [ML][Symbol][Percent][Period] - It is the price of the Mid Line Indicator at current time.
2) Now the zigzag period of the MidLine indicator will just be the time frame period of the chart.
3) New Global Variable is created, i.e. [ML][Symbol][Percent][Period].
2) Added more configurations such as look back period and zigzag parameters.