Elliot Wave Confirmation
This Old Kings indicator for MetaTrader 4 is called Elliot Wave Confirmation. Judging by its name, it is built around wave counting in the Elliott style. In the code it works with moving averages. It draws arrows on the chart. It has 2 settings, for example Faster EMA (default 5) and Slower EMA (default 6). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. 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 Elliot Wave Confirmation
Elliot Wave Confirmation is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart. It has 2 settings, such as Faster ema and Slower ema. MQL source code included.
Files in the download: elliot-wave-confirmation.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Faster ema | 5 | |
| Slower ema | 6 |
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 · Moving Average · MT4 Indicator · MQL4 Source Code