Candlestick With Momentum Update 2
Candlestick With Momentum Update 2 — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to price momentum. Its source code uses moving averages and ATR. It draws arrows on the chart, can send alerts and marks candlestick patterns. It has 24 settings, for example lines (default true), step (default 500) and Dell (default true). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 7 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 Candlestick With Momentum Update 2
Candlestick With Momentum Update 2 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 marks candlestick patterns. It has 24 settings, such as Lines, Step and Dell. MQL source code included.
Files in the download: Cabdlestick with momentum update\Auto channel.ex4, Cabdlestick with momentum update\belly fx SYSTEM.tpl, Cabdlestick with momentum update\Brilliant Reversals (2).ex4, Cabdlestick with momentum update\Brilliant Reversals.ex4, Cabdlestick with momentum update\Candlestick alerts.ex4, Cabdlestick with momentum update\Candlestick alerts.mq4, Cabdlestick with momentum update\Extreme_Spike.ex4, Cabdlestick with momentum update\Extreme_Spike.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Lines | true | |
| Step | 500 | Distance between orders |
| Dell | true | |
| ___ | Alerts | |
| Display alert | true | Turn this alert on or off |
| Alerts message | true | Turn this alert on or off |
| Alerts sound | true | Turn this alert on or off |
| Alerts notify | false | Turn this alert on or off |
| Alerts email | false | Turn this alert on or off |
| Alerts sound name | alert1.wav | Turn this alert on or off |
| Arrow displacement | 1.0 | |
| Text displacement | 1.5 | |
| Line up color | clrLimeGreen | Colour on the chart |
| Line dn color | clrRed | Colour on the chart |
| No repaint | FALSE | |
| Minor min extreme height at rs | 2.0 | |
| Major to minor height ratio | 2.5 | |
| Minor min extreme width | 2 | |
| Major min extreme width | 2 | |
| Alert major bottom enabled | FALSE | Turn this alert on or off |
| Alert major top enabled | FALSE | Turn this alert on or off |
| Alert minor top enabled | FALSE | Turn this alert on or off |
| Alert minor bottom enabled | FALSE | Turn this alert on or off |
| Alert stable enabled | FALSE | Turn this alert on or off |
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 · Buy/Sell Arrows · Alerts · Candlestick Patterns · Moving Average · ATR · MT4 Indicator · MQL4 Source Code