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This tool is designed to provide a real-time, visual summary of market movement directly on your trading chart. It simplifies complex data into a high-visibility display, making it easier for traders to monitor significant price action at a glance without constantly scanning the entire screen.
Key Functionalities
Dynamic Visual Feedback The tool features an intelligent color-coding system. By comparing the current market price to the previous price, it automatically changes the text color on your screen:
- If the price is rising, the display turns green.
- If the price is falling, the display turns red. This allows you to instantly perceive the direction of the market trend through color cues alone.
Smart Data Calculation Instead of showing a raw, static number, the script performs a behind-the-scenes calculation using an "Adaptive RSI" indicator. It measures the difference between specific data points in this indicator and converts that movement into a meaningful numerical value based on the currency pair you are trading (adjusting automatically for different decimal places, such as those used for JPY pairs).
Automated Alerts The logic includes a built-in "breakout" detection system. If the calculated market movement exceeds a specific threshold (higher than 9 or lower than -9), the tool will trigger an audible notification. This serves as a quick warning to the trader that a significant move is occurring, potentially signaling a high-impact news event or a major trend shift.
Customizable Display Options The tool is highly customizable to fit your specific workspace preferences. You can easily adjust:
- Positioning: Choose which corner of the chart (Top Left, Top Right, Bottom Left, or Bottom Right) the information appears in.
- Readability: Customize the font size and style (e.g., Arial Black) to ensure the price is clearly visible even on large monitors.
- Aesthetics: Toggle the automatic color-changing feature on or off depending on your personal trading style.
//+------------------------------------------------------------------+
//| Magnified Market Price.mq4 ver1.4 by Habeeb |
//| Modified by FerruFX for Cobraforex THV System, www.cobraforex.com|
//+------------------------------------------------------------------+
#property indicator_chart_window
//----
extern string note1="Change font colors automatically? True = Yes";
extern bool Bid_Ask_Colors=True;
extern string note2="Default Font Color";
extern color FontColor=Black;
extern string note3="Font Size";
extern int FontSize=32;
extern string note4="Font Type";
extern string FontType="Arial Black";
extern string note5="Display the price in what corner?";
extern string note6="Upper left=0; Upper right=1";
extern string note7="Lower left=2; Lower right=3";
extern int WhatCorner=1;
//----
double Old_Price;
double adrsi,adrsib4;
double ad;
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int init()
{
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int deinit()
{
ObjectDelete("Market_Price_Label");
//----
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
int start()
{
if (Bid_Ask_Colors==True)
{
if (Bid > Old_Price) FontColor=LawnGreen;
if (Bid < Old_Price) FontColor=Red;
Old_Price=Bid;
}
//---- Define the standard digits
int digits;
string sub=StringSubstr(Symbol(), 3, 3);
if(sub == "JPY") digits = 1;
else digits = 2;
ad=(iCustom(NULL,0,"adaptive rsi",0,0)*10000- iCustom(NULL,0,"adaptive rsi",0,1)*10000);
if(sub == "JPY") ad= (iCustom(NULL,0,"adaptive rsi",0,0)*10000- iCustom(NULL,0,"adaptive rsi",0,1)*10000)*Point;
if (ad>9 || ad<-9) PlaySound("news.wav");
string Market_Price=DoubleToStr(ad , digits);
//----
ObjectCreate("Market_Price_Label", OBJ_LABEL, 0, 0, 0);
ObjectSetText("Market_Price_Label", Market_Price, FontSize, FontType, FontColor);
ObjectSet("Market_Price_Label", OBJPROP_CORNER, WhatCorner);
ObjectSet("Market_Price_Label", OBJPROP_XDISTANCE, 1);
ObjectSet("Market_Price_Label", OBJPROP_YDISTANCE, 1);
}
//+------------------------------------------------------------------+
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