Ultra ATR MT4 “SCALPING” Indicator.
It’s made to show some reference (it’s more like a rifle scope, than a rifle).
Main components are pip scale, ATR/pivot, MA level, RSI, and spread alert. Can be used on any timeframe, but since it’s made for scalping it is somewhat adjusted for M1-M15.
Settings: Scale Zero Level Shift.
This is simple scale. Middle (zero level) is placed at the middle of the body of chosen candle. This can be adjusted so that you can differentiate reversal from pullbacks.
Rule of thumb is: Trend is up when price is above Zero Level, trend is down when price is below.
Settings: Mode(Standard,Fibonacci), Period (No of M5 Bars), Lines – Style, Color, Width.
There’s some math behind this one. Weighted average of chosen number of M5 bars (for open/close/high/low price)