Level lines from the 'Daily open'

 

Hi,

I was wondering if anyone has made an indicator which places level lines on the chart using the daily open as the reference point. I wish to place levels of + 45 and -45 from the Open.

If anyone has this or is willing to make one i would be very grateful.

Many thanks.

napeharm

 

Hi napeharm,

I am interested in this idea but where exactly does the "day" start in FX ?

Depending on the broker used, the MetaQuotes chart package will vary with respect to the time scale.

Or are you only interested in the start of "day" of the country you are in ?

Am I missing the point maybe ?

 

Open Indicator

napeharm:
Hi,

I was wondering if anyone has made an indicator which places level lines on the chart using the daily open as the reference point. I wish to place levels of + 45 and -45 from the Open.

If anyone has this or is willing to make one i would be very grateful.

Many thanks.

napeharm

Will this do - it is just a simple coloured panel graphic of price above and below the Daily Open, Colours and Distance from the Open level are adjustable in the inputs area. If this suits let me know if you need Comments like Open Level, Distance above/Below Open, Price display, Time , Price etc

daily_open_plus.mq4

Files:
 

Hi, cja,

Thanks for that i will give it a go and let you know.

napeharm

 

Hi,

The actual open on the indicator seems alot higher than the one my platform is showing for some reason. Mine is showing some 40 pips lower. So being able to adjust the open time is going to be essential esp. since i have several platfroms which use differing feeds. If you could add the ability to change the gmt. + or - that would be great. Also could you put lines on indicator instead of coloured areas?, that would keep thiings simple esp. since i have coloured areas already.

This is what my chart looks like presently, it looks messy expanded out but shows where your indicator is showing the open, and is on 5 mins. gbp/us.

Many thanks cja.

napeharm

Files:
daily_open.gif  64 kb
 

Hi MLaden,

Could you make this indi working on new metatrader version?

There is 1 error and 3 warnings I cannot repair.

THX Marco

daily_open_plus.mq4

Files:
 

According to my 2 years trading experience I see, low skilled Forex traders use various kind of trading indicators and EAs on their trading chart. On the other hand, professional Forex traders are not depending on them even their chart is fresh and clean. Because, they depend on their price action knowledge and support and resistant.

 
Marco Hinderink:

Hi MLaden,

Could you make this indi working on new metatrader version?

There is 1 error and 3 warnings I cannot repair.

THX Marco

daily_open_plus.mq4

Try this.
Files:
 
David Ellis: I am interested in this idea but where exactly does the "day" start in FX ?
 

can you make one for mt5?