This indicator will write value degrees of the lastest position of price at the current timeframes, and when position and condition of trend status was changed, the indicator will give an alerts.Thank you for reading this post, don't forget to subscribe!
The Price Degrees indicator is not a direction indicator for BUY or SELL instruction, but a measure of position, direction and condition of the trend status accordance to the current trading timeframes.
If the theory of degrees is applied to the forex charts trading terminal, then price position can be divided in 4 ranges of degrees:
- => 270 degrees to 310 degrees, is position of Strong Bearish.
- => 315 degrees to 360 degrees (0 degrees), is a position of Bearish.
- => 0 degrees to 45 degrees, is a position of Bullish.
- => 50 degrees to 90 degrees, is position of Strong Bullish.
This indicator will write value degrees of the lastest position of price at the current Timeframes, and when position and condition of trend status was changed, the indicator will give an alerts.
Description of Color indicator:
- Rounded blue, and arrow blue, Status Trend is Strong Bullish.
- Rounded blue, and arrow aqua, Status Trend is Bullish Weakened.
- Rounded aqua, and arrow blue, Status Trend is Bullish Strengthened.
- Rounded aqua, and arrow yellow, Status Trend is Began to Bearish.
- Rounded yellow, and arrow aqua, Status Trend is Began to Bullish.
- Rounded yellow, and arrow red, Status Trend is Bearish Strengthened.
- Rounded red, and arrow yellow, Status Trend is Bearish Weakened.
- Rounded red, and arrow red, Status Trend is a strong Bearish.
In order to make it easier to see the trends on the current chart timeframe, I bring the indicator PriceDegrees with the template “pricedegrees_template”.
MT4 Indicators – Download Instructions
[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install [post-title].mq4?
- Download [post-title].mq4
- Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on [post-title].mq4
- Attach to a chart
- Modify settings or press ok
- Indicator [post-title].mq4 is available on your Chart
How to remove [post-title].mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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