MT4 Indicator "RT"


“RT” Indicator Specifications

This indicator consists of two lines drawn on the main chart and needs to reference an external Indicator called “DTrigger” that has no external variables and returns “1” or “0”.

Ext Variables are: ProfitPips = 10; MinRTPips = 40; RT%= 25; UseDTrigger = True;

LabelPosition = 20 (pips the label is above High for SellRT /below Low for BuyRT)

For all below: If UseDTrigger = False then the DTrigger Indicator is assumed to be always “1” and thus the actions outlined are taken as soon as the current bar closes and is still by “MinRTPips” below or above the respective reference value.

Upper “BuyRT” Line (DarkGreen):

a) If Price is moving in an UP direction …….

Initially a variable called “HighPrice” equals the ASK of the current Price and the Variable “BuyRTPoint” and the “BuyRTLine” equal “HighPrice” +”Profit Pips”. Every time the current ASK price moves up and reaches the “BuyRTPoint” then “HighPrice” becomes equal to the current ASK and the “BuyRTPoint” and “BuyRTLine” move again by “ProfitPips” above it. In other words the “HighPrice” and “BuyRTPoint”/”BuyRTLine” variables are ratcheting up every time Price goes up by another Profit Pips over and above the last “HighPrice”.

b) If current ASK Price retracts down by MinRTPips below the current “HighPrice” value AND the “DTrigger” Value is “1” after the Close of the current bar then we set a “BuyRTPoint” to the ASK Close of the bar that just closed. The new “BuyRTLine” is now calculated using the Formula:

BuyRTPoint +(HighPrice - BuyRTPoint)*RT%/100

Two things can happen now:

1) Price keeps moving down ……

Step b) repeats. I.e. if the ASK Price moves down again by MinRTPips (but this time below the last BuyRTPoint) AND the DTrigger Value is 1 while still by MinRTPips below the BuyRTPoint we set the “BuyRTPoint” to the ASK Close of the bar that just closed. Consequently the BuyRT Line also gets recalculated using the new BuyRTPoint.

2) Price moves back up ………..

If the Price moves up and the BID reaches the BuyRTLine value then it does the following in this order: Place a Label with the pip value of the difference between “HighPrice” and “BuyRTPoint” below the current bar, the “HighPrice” becomes equal to the current ASK Price, the BuyRTLine and BuyRTPoint values becomes “HighPrice” + “ProfitPips”. If Price moves further up the ratcheting up of the HighPrice recommences (see a)).

The SellRTLine is generated in a similar fashion but with reverse logic (details in final specifications)

Skills: Metatrader

See more: chart logic, rt, mt4 indicator , indicator mt4, value always true, metatrader variable, mt4 bar time, mt4 bar bar, mt4 profit, mt4 close profit, mt4 low indicator, low mt4 indicator, set mt4, close reverse mt4, variables chart, metatrader low indicator, moves profit, mt4 indicator close, metatrader pip value indicator, bar indicator mt4, price close indicator, chart metatrader, time line metatrader, metatrader reverse order, mt4 line order

Project ID: #4676632

16 freelancers are bidding on average $109 for this job


Hello. I am interested in your project. Please, take a look at my profile and check your PMB for more details about my offer. Thanks

$200 USD in 4 days
(57 Reviews)

please check PM. thanks.

$150 USD in 3 days
(53 Reviews)

Hello, I can get this done for you. For more personal details and past references please see my PM and profile.

$77 USD in 2 days
(109 Reviews)

HI, I am expert in making EA and CI for MT4. Check PMB for details.

$90 USD in 3 days
(73 Reviews)

Hello, Kindly check out my private message and let me know what do you think, Thanks. Jack.

$100 USD in 3 days
(43 Reviews)

Hi, I can help You

$166 USD in 1 day
(14 Reviews)

I can do that, contact me.

$66 USD in 3 days
(24 Reviews)

Hello sir, Here expert in forex. Please check inbox to know about my work experience. Thanks

$83 USD in 3 days
(14 Reviews)

<< Hello, Please check PM. Thanks>>

$149 USD in 2 days
(19 Reviews)

Hello. I can code this indicator for you. Please see PMB for more details. Thank you.

$150 USD in 3 days
(9 Reviews)

Hi :) I am a metatrader expert. I will make it done for you.

$127 USD in 3 days
(4 Reviews)

Will be glad to help you, please check your inbox.

$94 USD in 1 day
(6 Reviews)

I am an experienced metatrader programmer, I have experience more than 9 years, I have created thousands of EAs and Indicators, I can do it for you

$50 USD in 2 days
(4 Reviews)

Hi, I can do your job.I am EricHe in MQL5 website. I have done hundreds of successful job cases and got excellent feedback as below from the customers. You can check more details from More

$155 USD in 3 days
(3 Reviews)

i have an excellent experience in automating forex strategies and coding indicators in mql4 language

$55 USD in 3 days
(2 Reviews)

Hello, I can finish this project for you. Please take a little time to check your PM box for more details. Regards!.

$70 USD in 3 days
(0 Reviews)

Let me handle it.

$111 USD in 10 days
(0 Reviews)