This tool is designed to provide traders with a real-time, visual representation of specific market momentum and price movements directly on their trading chart. Rather than relying solely on standard price feeds, it translates complex technical data into an easily readable, large-scale display.
Core Functionality
Dynamic Visual Feedback The indicator features a prominent text display that updates instantly as the market moves. To help traders identify trend direction at a glance, the tool includes a color-coding system:
- When the current market price increases relative to the previous tick, the display color changes to green.
- When the price decreases, the color shifts to red. This provides an immediate psychological cue regarding the current "push" of the market.
Customizable Interface The tool is highly adjustable to suit a trader's specific workspace needs. Users can customize:
- Positioning: Choose which corner of the screen the price display appears in.
- Readability: Adjust the font size, style, and default colors to ensure it remains visible regardless of other chart elements.
Advanced Momentum Calculation Under the hood, the logic does not just show the raw currency price. It utilizes an "Adaptive RSI" calculation to determine specific market movements. It measures the difference between current and previous values to highlight significant shifts in momentum. The tool is also intelligent enough to recognize different currency pairs (such as JPY pairs), automatically adjusting its decimal precision to match the specific asset being traded.
Automated Alerts For traders who need to react quickly to volatility, the script includes an optional audio alert system. If the calculated market movement exceeds a specific threshold, the tool will trigger a sound notification. This serves as a proactive "bell" to alert the user to significant price action that may require immediate attention.
//+------------------------------------------------------------------+
//| Magnified Market Price.mq4 ver1.4 by Habeeb |
//| Modified by FerruFX for Cobraforex THV System, www.cobraforex.com|
//+------------------------------------------------------------------+
#property indicator_chart_window
//----
extern bool Bells=True;
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;
//double fast=(iCustom(NULL,0,"ticksmoother_v1.1",1,0)*10- iCustom(NULL,0,"ticksmoother_v1.1",2,1)*10);
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 (Bells&&(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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