Up Bar Share Meter
Deliberately the plainest possible directional-bias reading available: of the last InpWindow closed bars, what share closed above the previous close. No smoothing, no weighting by how far each bar moved, no multi-factor scoring - just a count. That simplicity is the point: it is a fast sanity check against a more elaborate trend or momentum indicator. When a sophisticated indicator says "strong uptrend" but the raw up-bar share is sitting near 50%, that disagreement is worth noticing before acting on the more elaborate signal. The line sits in its own subwindow between 0 and 100, with level lines at 30, 50 and 70 marking a rough bearish/neutral/bullish split. It is a description of recent price action, not a prediction of what comes next. Notes and limitations - Counts closes only, not intrabar direction or move size - a bar that closed up by one point counts identically to one that closed up by a hundred points. - Does not repaint: every plotted bar is a genuine closed-bar calculation, computed identically whether reached live or on chart load. - Purely descriptive of recent closed-bar behaviour; a high or low reading says nothing on its own about whether the bias will continue or reverse. - On instruments/timeframes where exact-tie closes are common, InpCountFlatAsUp can visibly shift the reading - check both settings if the meter seems to disagree with a visual read of the chart.
Indicator · MT4 · v1.0 · Free
About Up Bar Share Meter
Up Bar Share Meter is an indicator for MetaTrader 4. It can alert you with a pop-up, sound, email or push message. It has 3 settings, such as Window, Count flat as up and Alerts. MQL source code included.
Files in the download: UpBarShareMeter.mq4, UpBarShareMeter.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Window | 20 | Trailing closed bars the up-close share is measured over |
| Count flat as up | false | Count a flat close (equal to the previous close) as "up"; if false it counts as "down" |
| Alerts | true | Alert once per closed bar when the share crosses 30 or 70 |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Momentum · Trend · Trailing Stop & Break-even · Alerts · MT4 Indicator · MQL4 Source Code