The Grid Lines indicator for Metatrader 5 is designed to display a grid on the chart, highlighting the round number levels.
You have the flexibility to customize the interval, line style, and colors according to your personal preferences.
There are various indicator variables and parameters that you can adjust, including the number of lines, interval between them, line style (such as dots), line width, and line color.
It is recommended to familiarize yourself with the indicator and test it on a demo account before using it in live currency trading.
The indicator is compatible with all time frames and trading instruments available on the Metatrader 5 charting platform.
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mfcs_gridlines.mq5 Indicator (MT5)
Chart Example
The picture below shows how the Grid Lines indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Grid Lines Indicator?
The Grid Lines indicator does not produce trading signals on its own.
It is advisable to use it in conjunction with Forex signal indicators or your preferred trading strategy.
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mfcs_gridlines.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the mfcs_gridlines.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration