Donchian Channel Mql File
This Old Kings indicator for MetaTrader 4 is called Donchian Channel Mql File. Judging by its name, it is built around Donchian channels and price channels. In the code it works with moving averages. It draws arrows on the chart. It has 5 settings, for example Channel Period (default 28), EMAPeriod (default 120) and Start EMAShift (default 6). Load it on a demo chart and check whether its signals repaint before trusting them. 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 Donchian Channel Mql File
Donchian Channel Mql File is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart. It has 5 settings, such as Channel period, Ema period and Start ema shift. MQL source code included.
Files in the download: DonchianChannel-mql-file.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Channel period | 28 | Period or timeframe used by the calculation |
| Ema period | 120 | Period or timeframe used by the calculation |
| Start ema shift | 6 | Bar shift (0 = current bar) |
| End ema shift | 0 | Bar shift (0 = current bar) |
| Angle treshold | 0.32 |
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: Channels & Envelopes · Buy/Sell Arrows · Moving Average · MT4 Indicator · MQL4 Source Code