"AV Grid MT5" is an indicator for MetaTrader 5, which automatically displays round numbers as horizontal lines and a sensible period separation .
Round prices can be used as support and resistance in trading.
It is an improvement on the "Grid" setting, which also draws a grid on the chart.
Improvements :
- Round levels instead of arbitrary positioning of the horizontals
- Structure by highlighting all x lines (main lines, 2 or 5 makes sense)
- Vertical lines are each in two periods (main and intermediate lines) instead of arbitrary positioning
- Grid color and style of the lines are freely selectable (2 x horizontal + 2 x vertical)
- "Background" also causes the position label to be displayed (right and bottom)
- Tooltips of the lines can be switched on and off and show the position (price or date/time)
Abbreviations :
- Y10 = 10 years
- MN6 = 6 months
- W = 1 week
- D = 1 day
- H8 = 8 hours
The indicator calculates its own horizontal line spacing, so you don't have to constantly adjust them. A big advantage in my opinion.
By using the same foreground and background color in the chart with "Background" setting of all 4 line styles = false, you can create your own plain chart axes.
Please report bugs.
