This indicator for MT4 calculates and displays the distance between the line drawn on the chart and the current price.
This can be very helpful for people who often draw horizontal lines on the chart. Using this indicator is also recommended for those who use breakout strategies.
Look at the image above. Like in the image, this indicator automatically calculates and displays the distance when you draw the horizontal line. The distance numbers are in pipettes (1/10th of a pip).
Tips on how to use:
Download the "LineDistance" MT4 indicator from the button below
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
Related education and FX know-how:
Forex Education - Basics:
Free Forex eBooks:
Forex Education - FX Brokers:
Forex Education - Technical Analysis:
Forex Education - Money Management:
Forex Education - Psychology:
Forex Education - Others: