Plotting daily moving averages as horizontal lines on hourly charts

Chaps,
I have a request to make an indicator based on MQL5 script to be used on MT5 terminals. Every day, I check daily charts of 18 currencies; each of it has 5 simple moving averages - 10, 21, 55, 100, 200 - two Bollinger bands - (21,1) and (21,2). Then I flip to the hourly charts and plot a horizontal line of those indicators.

As you can see, it can be quite a bit of a task to do it for many currencies. As such, I am wondering if a kind soul can please help me develop a simple script which would plot the daily averages (in real time) as a horizontal line (with the liberty to change the color and the thickness of the line) on an hourly chart.

I trust this would clarify the everything. Please feel free to ask me should you have any doubts.

Cheers
R

Why don't you use MTF indicators of MA and BB @ 1H Charts?


You won't have to plot the horizontal lines.

That would not serve the purpose. As I want the daily figures on an hourly chart

Here's the visual representation (attachment); 1H charts with daily mtf versions of bb and 200sma.

But apparently you are looking for something else.


Hope you find it mate

Thanks for the screenshot. You are right. I am actually looking for something else. I have attached a screenshot of 1H GBPUSD chart. I'll explain what I am looking for. Basically, the horizontal lines that you see are the moving averages of the daily close prices. The values are as of close of previous day - in this case Friday. White is 10D, Orange is 21D, yellow is 55D, Blue is 100D, Red is 200D. The dashed lines are upper and lower values of BB(21,1) and BB(21,2) respectively.

Hope this helps.

P.S. Please note that I need this for MT5. Thanks

Sorry, whats MTF mate?

MTF - Multiple Time Frame (sometimes also known as OTF - Other Time Frame)

The plotting of an indicator from a different timeframe to your chart timeframe

ie. in your case the plotting of daily bollinger bands, ma's onto the 1hr chart

Thanks. fluiDynamic, can you please share the indicator that you have shown in the screenshot?

Sure,

For the timeframe parameter, use 1440.

This is exactly what I am looking for! I can attache 5 same indicators for different moving averages. Works well in MT4. Now if there is a way to get this in MT5? I have a 3x3 currency matrix of EURUSD, GBPUSD, USDJPY, USDCHF and their respective crosses. So MT4 takes up a lot of memory for this. MT5 is a bit smarter when it comes to managing memories and takes up far less space.

Hi there,

I wrote one that currently displays three moving averages. You can get it here: http://pipnotic.com/
Go to the downloads page.

Regards,
sharpe

Hi every one,
For myself, I really need to have "horizontal lines" instead of classical "MTF curving lines".

I am learning to code, i begin to have some knowledge, but, i really don't know how to achieve it.

Is there some ".mq4" indicator that fit my needs ?

Regards.