Setting up a Custom One Level Cross indicator
The One Level Cross option allows you to add an external indicator to your algorithm.
You can see examples of One Level Cross indicators here: https://nnfxalgotester.com/help/one-level-cross/
How the One Level Cross option works:
As you can see in the image below, the One Level Cross option can be used to include indicators as C1, C2, Volume, Exit or Continuation. Each function will use the same indicator differently, so:
- As Main Confirmation (C1) or Continuation Indicator: A BUY signal is created whenever the indicator element crosses upwards at the chosen level. And a SELL signal is created when the element crosses below the chosen level.
- As 2nd Confirmation (C2): A BUY signal is accepted when the indicator element is above the level chosen. And a SELL signal is accepted when the indicator element is below the level chosen.
- As Volume Indicator: A BUY or SELL signal is accepted when the indicator element is above the level chosen (trade zone = volume in the market). The signal is blocked if the indicator element is below the level (no-trade zone = market without volume).
- As Exit Indicator: An Exit SELL signal (ie. to close a short position) is generated when the element created by the indicator crosses above the level chosen. And an Exit BUY signal (ie. to close a long position) is generated when the element created by the indicator crosses below the level.
One Level Cross configuration:
To include a One Level Cross indicator, the indicator inputs, the indicator path and name, the buffer representing the line created by the indicator, and the level must be indicated in the "Indicator Parameters" section.
The indicator should be placed in MT4's indicators folder (MQL4\Indicators).
Pro tip: To invert the operating mode, simply place a minus sign before the buffer. For example, change from "4" to "-4".