Elder Triple Screen Panel
Elder's triple screen method solves a specific problem: a trend-following signal and a countertrend oscillator signal contradict each other constantly if you look at them on the same timeframe. His fix was to split the job across three screens. The tide, read on a higher timeframe, sets the only direction you are allowed to trade. The wave, read on an intermediate view, looks for a pullback against that direction using an oscillator - buying dips in an uptrend, selling rallies in a downtrend, never trading against the tide. The ripple is the short-term trigger that actually times the entry once the first two line up. This panel reads the tide as the slope of an EMA on a higher timeframe (rising or falling between its last two closed values), the wave as a stochastic %K reading on the chart's own timeframe (oversold inside an uptrend, overbought inside a downtrend), and the ripple as the last closed bar breaking the high or low of the bar before it, in the tide's direction. A combined "BUY SETUP" or "SELL SETUP" only appears when all three agree - a deliberately strict AND, because the entire point of the method is that the higher timeframe overrules everything else. Every reading is taken from the last fully closed bar on its own timeframe. The panel refreshes live on every tick, but nothing it reports depends on data that can still change. Notes and limitations - The tide is a slope reading (rising/falling EMA), not a full trend classification system - a choppy higher timeframe will flip it more often than a textbook trending market would suggest. - The ripple only checks a two-bar breakout, the simplest version of Elder's entry trigger; it does not implement his channel breakout stop variant. - Higher timeframe data must exist in the terminal's history for InpTideTimeframe; on a symbol with thin history the tide reading can return blank until enough bars have downloaded. - This is a context panel, not an auto-trader. It does not size a position, place a stop, or account for spread and slippage.
Indicator · MT4 · v1.0 · Free
About Elder Triple Screen Panel
Elder Triple Screen Panel is an indicator for MetaTrader 4 based on Stochastic and Moving Average. It can alert you with a pop-up, sound, email or push message. It has 12 settings, such as Tide timeframe, Tide ma period and Wave stoch k. MQL source code included.
Files in the download: ElderTripleScreenPanel.ex4, ElderTripleScreenPanel.mq4, ElderTripleScreenPanel.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Tide timeframe | PERIOD_H4 | Higher timeframe used for the tide (trend) |
| Tide ma period | 13 | EMA period used to read the tide's slope |
| Wave stoch k | 14 | Wave (intermediate) stochastic %K period |
| Wave stoch d | 3 | Wave stochastic %D period |
| Wave stoch slow | 3 | Wave stochastic slowing |
| Oversold level | 30.0 | Wave %K at or below this = oversold (buy-side dip) |
| Overbought level | 70.0 | Wave %K at or above this = overbought (sell-side dip) |
| Corner | CORNER_LEFT_UPPER | Panel corner |
| X distance | 10 | Panel horizontal offset, pixels |
| Y distance | 20 | Panel vertical offset, pixels |
| Font size | 10 | Panel font size |
| Alerts | true | Alert once per closed bar when all three screens align |
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: Breakout · Stochastic · Oscillator · Buy/Sell Arrows · Trend · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code