Draw line chart from highs and lows | Forex Factory

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Draw line chart from highs and lows

  • #1
  • First Post: Aug 28, 2015 2:58am Aug 28, 2015 2:58am
When I switch to the line chart, I see that it draw from the candles' open/close points. Correct me if I'm wrong, please.
What I'd like to do is to display a line chart based on the highs/lows of the candles. Is that possible in MT4? Or is there any indicator that can do this? - something like a zig-zag, but much more precise?
Cheers.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #2
  • Aug 28, 2015 3:16am Aug 28, 2015 3:16am
Hi wattaman,

The line chart draws from close to close.

If you want to draw lines from high to high, or low to low, it's simple. Add a moving average of 1 and apply to high or low.
Simplicity is the Ultimate Sophistication.
  • #3
  • Aug 28, 2015 3:36am Aug 28, 2015 3:36am
Quoting broketrader
Hi wattaman, The line chart draws from close to close. If you want to draw lines from high to high, or low to low, it's simple. Add a moving average of 1 and apply to high or low.
From close to close, right, thanks.
But I'm afraid I didn't explain right. If the candle is bullish, I want the line chart to be drawn from the highest high point of that candle. And if the next one is bearish, I want it to draw to its lowest low point. Similar to what zig-zag does, but for every candle, no matter the candle size.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #4
  • Aug 28, 2015 3:56am Aug 28, 2015 3:56am
Quoting wattaman
{quote} ... If the candle is bullish, I want the line chart to be drawn from the highest high point of that candle. And if the next one is bearish, I want it to draw to its lowest low point. Similar to what zig-zag does, but for every candle, no matter the candle size.
A ha, understood. I think you will need a specific indicator for that. I don't know of one existing.
Simplicity is the Ultimate Sophistication.
  • #5
  • Aug 28, 2015 5:57am Aug 28, 2015 5:57am
Yeah, me neither Broketrader. I am only hoping someone knows of such thing.
Well, thanks.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #6
  • Aug 28, 2015 7:25am Aug 28, 2015 7:25am
I have a suggestion... Use bar chart instead of candle chart and the high/low of the bar is more obvious than with the candles. It makes it much easier to "visualize" the line that you would like to be there.
  • #7
  • Aug 28, 2015 7:44am Aug 28, 2015 7:44am
Thanks Mindyyost, but it won't work. Not for me anyway. I'm trying to get rid of candles/bars entirely. If only the line chart would show the real action. I guess they're right when they say that Metatrader was build by brokers, for brokers... not for traders.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #8
  • Edited 8:50am Aug 28, 2015 8:38am | Edited 8:50am
Coded with the latest MT4 code.
Attached File(s)
File Type: ex4 Price High Low.ex4   31 KB | 1,106 downloads
Trade what you see not what you hope
  • #9
  • Aug 28, 2015 8:43pm Aug 28, 2015 8:43pm
Quoting cja
Coded with the latest MT4 code. {file}
That's what I was looking for.
Thank you very much, Cja.
Using the RobotFX EAs for a while https://www.robotfx.org/
  • #10
  • Sep 7, 2015 6:50pm Sep 7, 2015 6:50pm
1.go to line mode & make it invisible.
2. plot MA(1) for both High and Low
Once A Trader Always A Trader.
  • #11
  • Sep 8, 2015 1:22pm Sep 8, 2015 1:22pm
---------------
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1АПР.png Size: 38 KB
Attached File(s)
File Type: mq4 ZigZag-open.mq4   8 KB | 713 downloads
File Type: mq4 ZigZag-close.mq4   8 KB | 700 downloads
  • #12
  • Last Post: Jun 23, 2020 7:15am Jun 23, 2020 7:15am
Quoting wattaman
{quote} That's what I was looking for. Thank you very much, Cja.
Hello Wattaman,

I wanted to ask if you are currently using the indicator you requested as part of your trading decision and if yes, how?
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