Four Horizontal Lines - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The indicator draws four horizontal lines: two basic horizontal lines (red by default) above the highs and below the lows , and a helper line (green by default) shifted from the basic lines.
The line difference UP plots the difference between high low up price plus price high low up and high low down and minus shift .
The line Difference DOWN plots the difference between High Low Down Price minus Price High Low Up and High Low Down and Plus Shift .
This indicator is mainly used on large timeframes starting from H4.
Figure 1. The parameter "number of items" is "2"
Figure 2. The parameter "number of items" is "1"
Attachment download
📎 four_horizontal_lines.mq5 (17.07 KB)
Source: MQL5 #20724
Four Horizontal Lines - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Four Horizontal Lines - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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