Best Indicator
Best Indicator — a MetaTrader 4 indicator kept in the Old Kings collection. Its source code uses moving averages and ATR. It draws arrows on the chart, can send alerts and can read another timeframe. It has 40 settings, for example ki (default 2), Num Bars (default 500) and Enable Alerts (default 0). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 46 indicator files 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 Best Indicator
Best Indicator is an indicator for MetaTrader 4 based on Moving Average and ATR. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and can show data from another timeframe (MTF). It has 40 settings, such as Ki, Num bars and Enable alerts. MQL source code included.
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Settings
| Setting | Default | What it does |
|---|---|---|
| Ki | 2 | |
| Num bars | 500 | |
| Enable alerts | 0 | Turn this alert on or off |
| Mm color | C'0,6,60' | Colour on the chart |
| Mm2 color | C'100,5,60' | Colour on the chart |
| P | 64 | |
| Step back | 0 | Distance between orders |
| Fast ema | 12 | 8 Faster settings |
| Slow ema | 26 | 17 |
| Signal sma | 9 | 9 |
| F fast ema | 8 | 5 |
| S slow ema | 17 | 10 //M1 Entry Signal |
| S signal sma | 9 | 17 |
| Comments | false | Comment written on the orders |
| Depth | 12 | |
| Deviation | 5 | |
| Backstep | 3 | Distance between orders |
| Time frame | 0 | TimeFrame=Period(); |
| Bars max | 2000 | |
| Midcol | Silver | |
| FW | 1000 | |
| Win | 0 | |
| Adjust side to side | 10 | |
| Shift up dn | 70 | Bar shift (0 = current bar) |
| Showcomments | TRUE | Comment written on the orders |
| Period1 | 5.0 | Number of bars in the calculation |
| Period2 | 12.0 | Number of bars in the calculation |
| Period3 | 23.0 | Number of bars in the calculation |
| Dev step 1 | 1,3 | Distance between orders |
| Dev step 2 | 1,3 | Distance between orders |
| Dev step 3 | 1,3 | Distance between orders |
| Symbol 1 kod | 159 | |
| Symbol 2 kod | 164 | |
| Symbol 3 kod | 164 | |
| _____ | ||
| Alerts | TRUE | Turn this alert on or off |
| Sound alerts | TRUE | Turn this alert on or off |
| Sound alert file | alert.wave | Turn this alert on or off |
| E mail alerts | TRUE | Turn this alert on or off |
| Midpivots | false |
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: Buy/Sell Arrows · Alerts · Multi-Timeframe (MTF) · Moving Average · ATR · MT4 Indicator · MQL4 Source Code