Overview of the Price_Scale_Large_v1.1 Indicator
The Price_Scale_Large_v1.1 indicator enhances the visibility of price levels and bid/ask data on the right-hand scale of the MT4 chart. It displays customizable price lines, enlarged fonts, and color-coded bid/ask tags, making the chart easier to read, especially for high-resolution screens or traders with vision needs.
This tool does not generate signals but improves clarity in price visualization. It’s ideal for traders who value precise price reading or those who monitor the bid/ask spread closely.
How to Use It in Practice
In live trading, the indicator can help by:
- Making price levels easier to read on high-resolution or distant monitors.
- Highlighting current bid/ask levels with custom color tags and labels.
- Visually tracking the market price without relying on the default MT4 scale.
- Customizing the appearance of the price scale to match chart themes or preferences.
This is especially useful for scalpers or traders who rely on small price movements and want to reduce the chance of misreading price levels.
Parameter Explanations
_levels
Defines how many horizontal price levels are displayed on the price scale.
_font size
Sets the font size for the displayed price levels to improve readability.
_color
Specifies the color of the price level labels.
_offset from right (pixel)
Controls the distance from the chart’s right edge to where the price labels appear.
_show ask
Enables or disables the display of the Ask price tag on the chart.
_bid color
Defines the color of the Bid price tag text.
_ask color
Defines the color of the Ask price tag text.
_tag bg color
Sets the background color of the bid/ask tags.
_tag width
Controls the width of the bid/ask tags displayed on the chart.
_tag height
Controls the height of the bid/ask tags displayed on the chart.
_bid line show
Turns on or off the line indicating the current Bid price.
_ask line show
Turns on or off the line indicating the current Ask price.
_line style / _width / _color
These control the style, thickness, and color of the bid/ask lines if enabled.
_offset from right (pixel)
Adjusts the distance of axis lines and ticks from the right edge of the chart.
_VLine color / _width
Set the color and thickness of the vertical guide lines on the price axis.
_ticks color / _ticks width
Configure the tick mark color and font size for the axis labels.
