iPump Indicator for MT4

This code represents the iPump Indicator for MT4, developed by the Forex Robot Easy Team.

For detailed reviews and trading results of this product, please visit this link. Please note that ForexRobotEasy is not the official developer of this product. We are only showcasing a sample code that can work as described in this product. To find the official developer of this product, please use MQL5.

Description

The iPump Indicator for MT4 is designed to assist traders in identifying trends, support and resistance levels, and overbought/oversold zones in the forex market. It provides the necessary functions to detect trends, assess support and resistance levels, and determine overbought/oversold zones.

Trend Detection Function

The detectTrend function is responsible for detecting the current trend based on the specified timeframe. Traders can customize the trend detection logic within this function.

Support and Resistance Levels Function

The assessLevels function determines the type of support and resistance levels based on the given price. Traders can modify the support and resistance level assessment logic within this function.

Overbought and Oversold Zones Function

The determineOverboughtOversold function determines whether the given price is in an overbought or oversold zone. Traders can customize the overbought and oversold zone determination logic within this function.

Initialization, Deinitialization, and Start Functions

The OnInit function is called during the indicator's initialization. Traders can initialize necessary variables and indicators within this function.

The OnDeinit function is called when the indicator is being deinitialized. Traders can perform necessary cleanup tasks within this function.

The OnStart function is the main entry point for the indicator's logic. It calls the detectTrend, assessLevels, and determineOverboughtOversold functions to determine the current trend, support/resistance level, and overbought/oversold zone. Traders can implement their trading logic based on these factors and manage trades accordingly. The function also calculates a conclusion based on the current trend, support/resistance level, and overbought/oversold zone, and outputs the conclusion using the Alert function.

Usage

To use the iPump Indicator for MT4, follow these steps:

1. Install the indicator in your MT4 platform.
2. Customize the trend detection logic, support and resistance level assessment logic, and overbought and oversold zone determination logic within their respective functions.
3. Implement your trading logic based on the trend, support/resistance level, and overbought/oversold zone.
4. Place trades, manage positions, etc. based on your trading strategy.
5. Monitor the conclusion outputted by the indicator using the Alert function.

Please note that the effectiveness of the iPump Indicator for MT4 depends on the accuracy of the customized logic within the functions and the trader's trading strategy. It is recommended to thoroughly test the indicator and seek professional advice before using it in live trading.

Support and Contact

For support or further inquiries about the iPump Indicator for MT4, please visit forexroboteasy.com or contact the Forex Robot Easy Team through their official channels.