3 Bar Stop Loss Indicator
From the Old Kings archive: 3 Bar Stop Loss Indicator, an indicator for MetaTrader 4. In the code it works with moving averages. It has 11 settings, for example Use Spread Offset (default true), Manual Offset (default 4) and Max Bars (default 2000). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 1 indicator file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About 3 Bar Stop Loss Indicator
3 Bar Stop Loss Indicator is an indicator for MetaTrader 4 based on Moving Average. It has 11 settings, such as Use spread offset, Manual offset and Max bars. MQL source code included.
Files in the download: 3-bar-stop-loss-indicator.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Use spread offset | true | Maximum spread allowed to trade |
| Manual offset | 4 | |
| Max bars | 2000 | |
| Trend ema period | 2 | Period or timeframe used by the calculation |
| Lookback | 3 | |
| S1 | Line Style: 0=line,1=dash,2=dots | |
| Stop line style | 2 | |
| Entry line style | 0 | |
| Entry line width | 3 | |
| Sell color | Red | Colour on the chart |
| Buy color | Blue | Colour on the chart |
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: Moving Average · MT4 Indicator · MQL4 Source Code