Mapping Forex Indicator Levels to Angular Degrees and Alerts

Summary

This MetaTrader 4 indicator converts the latest positions of price, a moving average, Williams %R, RSI, or Stochastic into angular degree readings. It also calculates position degrees using the highest and lowest prices over 100 bars, and issues alerts when position or trend conditions change. Users can select only one calculation type at a time; invalid or conflicting selections revert to price degrees.

The description gives example mappings for common oscillator levels: RSI 70 and 30 correspond to 36 and 324 degrees, while Williams %R and Stochastic readings of 80 and 20 map to 54 and 306 degrees. The convention places the chart high at 90 degrees, the low at 270, and the midpoint at 0 or 360. These are indicator display conventions, not evidence of predictive value. The document does not explain the full calculation formula, alert criteria, or provide backtests showing whether the degree readings improve trading decisions.

Key ideas

• The indicator expresses selected price or oscillator positions as degrees and can alert when position or trend conditions change.
• It supports one calculation source at a time: price, moving average, Williams %R, RSI, or Stochastic.
• Its chart convention assigns 90 degrees to the high, 270 to the low, and 0 or 360 to the midpoint.
• Example oscillator readings map RSI 70 and 30 to 36 and 324 degrees, respectively.
• The description provides no validation that these mappings produce profitable signals.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.