Are you looking for a way to enhance your trading strategy? Meet ForexDegrees, a cutting-edge Forex indicator designed specifically for MetaTrader 4 that comes with handy movement alerts.
This nifty tool provides real-time calculations of price movements, including the latest values of Price, Moving Averages (MA), Williams Percent Range (WPR), Relative Strength Index (RSI), and Stochastic indicators. It calculates position degrees based on the highest and lowest prices over the last 100 bars, giving you a solid grasp of market trends.
Whenever there’s a shift in trend status or position, ForexDegrees will promptly alert you, ensuring you never miss a beat in the fast-paced trading environment.
Customize Your Indicator: With ForexDegrees, you can select your preferred position calculation degree. Check out the properties above for more details!
In terms of degree measurement, the chart operates on a scale where the highest degree is 90° (Main Chart or Sub-Window), the lowest is 270°, and the midpoint is either 0° or 360°.
- RSI: 70 corresponds to 36°, while 30 equals 324°
- WPR: 80 (WPR -20) equals 54°, and 20 (WPR -80) corresponds to 306°
- Stochastic: 80 is 54°, and 20 equals 306°
Note: You can only select one calculation degree at a time: Price, MA, WPR, RSI, or Stochastic. If you choose incorrectly or select multiple degrees, the indicator will revert to the default setting, which is Price Degrees.
This could be a game-changer for fellow traders!
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