## Explanation of the MQL4 Script Logic for Non-Programmers
This script is designed to add an information panel and trading tools to a MetaTrader 4 chart. It provides information about the current market and allows for quick placement of support and resistance lines, as well as simple order management.
Here?s a breakdown of the main functionalities:
1. **Information Display:**
* It shows real-time data like lot size, pip value, spread, and swap rates for the current currency pair, giving a trader quick insights into trading costs and potential profits.
* Displays mouse coordinates: Show Price and Time of the chart at the current Mouse Over
* It also displays account information such as your current balance or equity and the amount of money you're willing to risk on each trade.
* Additionally, it can be configured to show information from popular technical indicators like RSI, Stochastic Oscillator, CCI, and MACD to facilitate quick technical analysis.
2. **Trading Tools:**
* **Support and Resistance Lines:** It allows you to quickly draw horizontal lines on the chart, representing potential support and resistance levels. You can customize the color, style, and width of these lines. You can create alerts to notify you if the price crosses these lines.
* **Trend Line Assistance:** Manages manually created trend lines: Trend line created with one name will be considered in all time frames and different chars
* **Money Management:** Allows setting a risk percentage and automatically calculates the appropriate lot size based on account balance and a defined stop loss. This helps to manage risk effectively.
* **Quick Order Placement:** It enables you to place buy and sell orders directly from the panel, with pre-defined or customizable stop-loss and take-profit levels.
* **Order line edition**: you can quickly create B/S/TP/SL Lines and this lines will take action into the Money Management Tool
3. **Customization and Settings:**
* The script offers a variety of customizable settings, including colors, line styles, alert options, and display preferences. These settings are managed through external variables that can be adjusted in the script's properties window.
* It allows you to show/hide many chart elements to create a less polluted screen.
* Chart timeframe fast change
4. **Alerts and Notifications:**
* It can trigger visual and audible alerts when the price crosses support or resistance lines, or when the price is nearing a stop-loss or take-profit level. This helps traders stay informed about important price movements.
* It has the option to send push notifications to a smartphone, providing alerts even when away from the computer.
5. **Persistence:**
* Some settings and drawn support/resistance lines are saved as global variables, meaning they persist even if the script is removed and re-added or the terminal is restarted. This prevents having to reconfigure the tool every time.
In essence, this script acts as a trading assistant, providing at-a-glance information and tools to facilitate faster and more informed trading decisions.
Price Data Components
Orders Execution
Indicators Used
Miscellaneous
10
Views
1
Downloads
0
Favorites
master_info_v1
ÿþ/ / + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - +
/ / | M a s t e r _ I n f o . m q 4 |
/ / | G i r a r d M a t t h i e u |
/ / | h t t p s : / / w w w . m q l 5 . c o m |
/ / + - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - +
# p r o p e r t y c o p y r i g h t "