Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Rectangle Detector Alert
About Rectangle Detector Alert Indicator
Rectangle detector alert detects manually drawn rectangle shapes on charts and sends out push notifications
also auto extending the rectangles at the same time as new candles form.
The concept behind this indicator is based on the manual trading of supply and demand zones. Most traders prefer
to draw their supply (resistance) and demand (support) zones manually instead of depending on indicators to auto draw
the zones. Keeping track of the drawn zones can be time consuming and stressful.
The rectangle detector alert automatically detects and extend the rectangle zones drawn sending out mobile
push notifications, email and pop up alerts when a zone is touched and the candlestick closes inside the rectangle.
Features
Works on all time frames
Auto extension of rectangles
Sends out mobile push notifications, email alerts and pop up alerts
Works on all pairs and displays the name of the pair, color of the rectangle, type of zone touched either supply (resistance)
or demand (support) and the time frame.
Important Notes
- When first loaded to the chart it will not display anything meaning it does not automatically draw zones.
The rectangles have to be manually drawn. That can be done by adding a rectangle from insert and shapes.
- The candlesticks have to close inside the rectangle for an alert to popup depending on the chosen time frame.
- This indicator do not give out buy and sell signals.
- This indicator will not display on strategy tester since these zones are drawn manually.
- New candles have to form for the rectangle to auto extend.
Miscellaneous
For our other products like non repaint signal arrows for deriv volatility indices and forex which comes with tp and sl visit our website at www.pipcrest.com
