The data displayed by the indicator comes from trades that are currently running (open positions). Closed trades are ignored. Also, the data of buyers’ or sellers' positions is generated from 10 sources and is limited to 12 trading pairs.
So, in essence, the Ratios indicator would come in handy as a confluence to confirm the optimal direction for your future trade. Besides, it is also useful in framing the short and long-term trends of an asset. Finally, the indicator will help you to easily identify manipulative price movements in the market.
How to Trade With Ratios Indicator
The ultimate aim of the indicator is to give you an edge in the financial trading industry. This can be done by opening a BUY/SELL position in the opposite direction of the crowd (retail traders). This is essential in becoming a consistent and profitable trader as most retail traders lose their monies to the market.
Furthermore, the indicator is also suited for spotting the correlation of price movement. For instance, you may hold a running trade if you identify an inverse correlation of price movement. Nonetheless, you can make your technical analysis and trade accordingly provided the Ratio indicator didn’t show the direction of most retail traders.
Features of the Indicator
To start with, low-capacity computers may have some glitches trying to display high-volume data generated by the indicator. To avoid any glitches, you may need to adjust the limit of the data volume to be displayed.
These are the salient features of the indicator:
Quick access to date – This feature is used to easily enable/disable data providers on the go. Signal Range: This feature highlights the BUY/SELL signal range. This (height of the range) can be manually set from the setting dashboard.
The custom formula for AVG (average Value): The formula is; input format: OAN = 2; IGG =2; BLU =1; SSL = 1. (Where MFB is the three-character code of the source, and 2 represents the share of the source in the average value).
Minimizing: This feature keeps the indicator in a minimized mode by default.
Auto Settings: This feature enables the indicator to automatically detect time zones and colors.
Update system: This feature ensures that users get the latest version of the indicator. It automatically downloads and installs an updated version of the indicator once it’s available.
- ON – This enables the indicator to display data from selected brokers.
- INACTIVE – This parameter enables/disables the display of data from selected brokers.
- OFF – This parameter disables the indicator from displaying data from the selected broker.
Show Average Ratio: This parameter is used to turn ON/OFF the display of the average value.
Average Ratio Formula: This parameter determines the brokers and weight the indicator uses to calculate the average value.
Average Line Width/Color: This defines the thickness/color of the average line.
Limit Display Data: This determines the depth of historical data the indicator displays.
Signal Ratio: This defines the SSL value of the indicator for BUY/SELL signals.
Indicator Panel Settings:
- Indicator Panel Position – This defines where the indicator’s panel is placed on your chart.
- Panel Initial Size – This parameter keeps the indicator’s panel maximized/minimized at startup.
- Indicator Window Size – This determines the fixed/floating height of the indicator on your chart.
Color Scheme – This is used to manually assign a color to the indicator. Besides, the indicator is also set to automatically choose a color that is in sync with your background.
Indicator Line Width – This determines the width of the indicator’s chart line for all brokers.
1. Download and unzip the archive to the MQL4 folder of the terminal;
2. Restart the terminal and run the indicator;
3. Allow import of DLLs.