Mobile Meta Trader 4 is excellent for trading execution but analysis has to be done using other online mobile tools.
Because of limited computing resources, full-fledged technical analysis is not possible on the tablet and mobile phone platforms.
If you want to use Expert Advisor or engage in automated or semi-automated trading, the Mobile platform is not appropriate for it.
Android Metatrader 4 offers a very limited number of built-in indicators and objects. Customs indicators developed at FF and elsewhere can't be used by Mobile Traders.
I am 70 and because of back problems, I depend upon the mobile MT4 platform for trading. I have to make the best use of it. So I am looking for help in adopting built-in objects like vertical lines, trendline, horizontal lines, Fibonacci Retracement, rectangle etc. to develop a setup for trading support and resistance.
It is clear that some kind of manual calculation is done and existing android mt4 objects are used to plot the lines and projections.
In such a case help is needed in identifying the free web sites that provide the values which can be plotted by way of vertical, horizontal, trend lines and other objects available for use in the mobile platform
The focus is on the price action which requires the use of following objects which are available:
Trend lines
· to plot mainly in terms of time to see the direction and points where demand and supply is increasing or decreasing
Vertical Lines
· to measure the distance of price moves in terms of time
Horizontal Lines
· to draw boundaries, probable zones of demand and supply
· to draw projections of exhaustion points where demand and supply may be changing due to profit-taking happening
Pivot Lines
· to draw horizontal pivot lines as probable entry price levels
Fibonacci Retracement
· to draw horizontal lines to plan profit taking and reducing risks
FF member mkuefne has shown in the following link a method to do manual calculations and plot
(a) a Weekly. Fibo Pivot Point
(b) weekly Fibonacci lines
https://www.forexfactory.com/showthr...4#post11053034
FF member NIH98 says for standard oscillator indicators (bound type like RSI/Stoch) we can't release the limit boundary.
In the Main chart, we can't use the relative range to create bands (except for BB) so we could only create LWMA bands for 1 TF, and if we switch to another TF then we will losing the accuracy.
He has created a similar setting for tablet/phone MT4 only for TF M15.
https://www.forexfactory.com/showthr...9#post12270389
Can any traders please show how to set up the following on the mobile platform using manual values and built-in indicators and objects?
Support and Resistance Lines
Projection of Average Daily/Weekly Ranges lines using Android MT4 objects and manual calculations. Can ATR be used instead?
Because of limited computing resources, full-fledged technical analysis is not possible on the tablet and mobile phone platforms.
If you want to use Expert Advisor or engage in automated or semi-automated trading, the Mobile platform is not appropriate for it.
Android Metatrader 4 offers a very limited number of built-in indicators and objects. Customs indicators developed at FF and elsewhere can't be used by Mobile Traders.
I am 70 and because of back problems, I depend upon the mobile MT4 platform for trading. I have to make the best use of it. So I am looking for help in adopting built-in objects like vertical lines, trendline, horizontal lines, Fibonacci Retracement, rectangle etc. to develop a setup for trading support and resistance.
It is clear that some kind of manual calculation is done and existing android mt4 objects are used to plot the lines and projections.
In such a case help is needed in identifying the free web sites that provide the values which can be plotted by way of vertical, horizontal, trend lines and other objects available for use in the mobile platform
The focus is on the price action which requires the use of following objects which are available:
Trend lines
· to plot mainly in terms of time to see the direction and points where demand and supply is increasing or decreasing
Vertical Lines
· to measure the distance of price moves in terms of time
Horizontal Lines
· to draw boundaries, probable zones of demand and supply
· to draw projections of exhaustion points where demand and supply may be changing due to profit-taking happening
Pivot Lines
· to draw horizontal pivot lines as probable entry price levels
Fibonacci Retracement
· to draw horizontal lines to plan profit taking and reducing risks
FF member mkuefne has shown in the following link a method to do manual calculations and plot
(a) a Weekly. Fibo Pivot Point
(b) weekly Fibonacci lines
https://www.forexfactory.com/showthr...4#post11053034
FF member NIH98 says for standard oscillator indicators (bound type like RSI/Stoch) we can't release the limit boundary.
In the Main chart, we can't use the relative range to create bands (except for BB) so we could only create LWMA bands for 1 TF, and if we switch to another TF then we will losing the accuracy.
He has created a similar setting for tablet/phone MT4 only for TF M15.
https://www.forexfactory.com/showthr...9#post12270389
Can any traders please show how to set up the following on the mobile platform using manual values and built-in indicators and objects?
Support and Resistance Lines
Projection of Average Daily/Weekly Ranges lines using Android MT4 objects and manual calculations. Can ATR be used instead?
Practice makes a person perfect