Contrast 2
This Old Kings indicator for MetaTrader 4 is called Contrast 2. It draws arrows on the chart and can read another timeframe. It has 9 settings, for example coeff (default 0), Time Frame1 (default Current time frame) and Time Frame2 (default next1). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 2 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 Contrast 2
Contrast 2 is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart and can show data from another timeframe (MTF). It has 9 settings, such as Coeff, Time frame1 and Time frame2. MQL source code included.
Files in the download: FREE TRADING SYSTEMS AND INDICATORS.url, ##Contrast-mtf.mq4, ##Contrast.ex4, Contrast template.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Coeff | 0 | |
| Time frame1 | Current time frame | Period or timeframe used by the calculation |
| Time frame2 | next1 | Period or timeframe used by the calculation |
| Time frame3 | next2 | Period or timeframe used by the calculation |
| Time frame4 | next3 | Period or timeframe used by the calculation |
| Lines width | 0 | |
| Labels color | DarkGray | Colour on the chart |
| Labels horizontal shift | 3 | Bar shift (0 = current bar) |
| Labels vertical shift | 1.6 | Bar shift (0 = current bar) |
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 · Multi-Timeframe (MTF) · MT4 Indicator · MQL4 Source Code