1: A simple line that plots on the chart. The line will represent X % of price. Option to change colour and the X number.

2: As above, line plots on chart but this time it is X times ATR. example, a line on the chart plots 3 times the current ATR of timeframe/chart. again option to change colour and X

thanks alot for your efforts.

I am still too new to post attachments

//+------------------------------------------------------------------+
//| Percentage Line.mq4 |
//| Al Mo |
//| Forex Trading Software: Forex Trading Platform MetaTrader 4 |
//+------------------------------------------------------------------+
#property copyright "Al Molina"
#property link "http://www.metaquotes.net"

#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 Yellow
//---- buffers
double PercentLine[];
extern double Percent= 0.382;

extern int barsback = 2;

//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,PercentLine);




//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----

//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int counted_bars=IndicatorCounted();



for( int i = Bars-counted_bars-1; i>=0; i--)
{
PercentLine[i] = High[iHighest(NULL,0,MODE_HIGH,barsback,i)]- (High[iHighest(NULL,0,MODE_HIGH,barsback,i)]-Low[iLowest(NULL,0,MODE_LOW,barsback,i)]) *Percent;

}

//----

//----
return(0);
}
//+------------------------------------------------------------------+

Thanks Al. I just compiled it in meta editor and it compliled with no error. thanks once again

Almost all indicators are based on statistical theories, but I wonder why there is no attention to "size distribution"; or maybe I'm not aware of it.

Is there an indicator showing the size distribution for peak heights? This will help traders to choose their strategies.

This will show, for instance, in a given period of time, how much it is probable to have a e.g. 100 pip movement.

we WISH !!


all indicator suppose to based on STATISTICS/ based on profitability and won't be changing when the condition change example sudden outbreak (except the current bar)


but many look so perfect in historical chart, but we realise that it is quite useless in LIVE trade - the programmer does contribute to let us understand the CANDLE better, but many of them are still quite raw

many indicators does have a good idea on the PRESENTATION

but we must do our own statistics and discrard those which are useless

Definitely, it should not be a live indicator; it just provide a view of the price movement in an instrument; then a trader can compare different instruments to choose one for a specified trading system.