Introducing the Daily Perspective Indicator for MetaTrader 4
Latest Update: Version 221.221
Released on 22nd December 2020, this version brings some exciting features!
Version 810.201 Overview
This powerful tool offers a complete range of visual concepts across multiple timeframes.
The Daily Perspective indicator visualizes the last three daily candles for timeframes of H1 (1 hour) and shorter.
It effectively projects the previous days' Open, Close, High, and Low (OCHL) prices into the current trading day.
One of the standout features of this indicator is its built-in alarm system. It signals when the price meets specific criteria:
The trend, indicated by a chosen EMA (Exponential Moving Average) period, is moving in the right direction based on the following timeframes: H1, H4, D1, W1, MN1.
For a BUY, the trend should be in an UPTREND.
For a SELL, it should be in a DOWNTREND.
Price conditions:
For a BUY, the price must be ABOVE the previous day's HIGH.
For a SELL, the price must be BELOW the previous day's LOW.
How to Use the Daily Perspective Indicator:
This tool is perfect for intraday trading on timeframes of H1 and shorter, helping you make well-informed trading decisions.
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