Can you help me find / identify some indicators please?
I'm brand new to MT4 but I've been trading on OANDA's fxTrade platform for years. I really want to make the switch to MT4 but I'm struggling to get set up.
I could really use a few tools/indicators. Does anyone know if anything like the following exists?
1) A way to draw horizontal lines above and below the spread lines (I'm using the spread_lines indicator) with the distance to each line based on calculated values. So for example, I'd love to be able to know if how many pips it would take (by seeing a horizontal line that moves with the market and spreads) to reach 1% of my NAV (net asset value) if I traded 20% of my NAV, leveraged by 20. Regardless of currency pair. Is that do-able? I'm trying to visualize how far I need to go to reach my target profit per trade goal.
2) Any tools for customizing trade sizes as a percent of NAV and determining SL and TP values based on reaching a percent of NAV. This is the same input data that would generate the horizontal lines in #1 above, but used to actually place a trade instead of trying to determine when and where to place it.
3) A way to measure volatility within a STARC channel. I like to trade horizontally moving markets that bounce up and down a lot between clear upper and lower bounds. I'm not aware of an indicator that measures intra-channel volatility. It would be awesome to find one that calculated percent of movement within a STARC band over a period of time. The inputs would need to be STARC parameters (or something similar) and the output would likely be a line that moved between 0 (or possibly even negative if it went out of bounds) and 100% over a separate number of periods that could be entered as a parameter.
I'm guessing I'll eventually be hiring a programmer for this last one (since not to many people like to trade horizontally moving markets) but I'm wondering what similar work already exists for the platform.
Thanks in advance for any direction you can offer. :-)
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I'm brand new to MT4 but I've been trading on OANDA's fxTrade platform for years. I really want to make the switch to MT4 but I'm struggling to get set up.
I could really use a few tools/indicators. Does anyone know if anything like the following exists?
1) A way to draw horizontal lines above and below the spread lines (I'm using the spread_lines indicator) with the distance to each line based on calculated values. So for example, I'd love to be able to know if how many pips it would take (by seeing a horizontal line that moves with the market and spreads) to reach 1% of my NAV (net asset value) if I traded 20% of my NAV, leveraged by 20. Regardless of currency pair. Is that do-able? I'm trying to visualize how far I need to go to reach my target profit per trade goal.
2) Any tools for customizing trade sizes as a percent of NAV and determining SL and TP values based on reaching a percent of NAV. This is the same input data that would generate the horizontal lines in #1 above, but used to actually place a trade instead of trying to determine when and where to place it.
3) A way to measure volatility within a STARC channel. I like to trade horizontally moving markets that bounce up and down a lot between clear upper and lower bounds. I'm not aware of an indicator that measures intra-channel volatility. It would be awesome to find one that calculated percent of movement within a STARC band over a period of time. The inputs would need to be STARC parameters (or something similar) and the output would likely be a line that moved between 0 (or possibly even negative if it went out of bounds) and 100% over a separate number of periods that could be entered as a parameter.
I'm guessing I'll eventually be hiring a programmer for this last one (since not to many people like to trade horizontally moving markets) but I'm wondering what similar work already exists for the platform.
Thanks in advance for any direction you can offer. :-)