Envelope Reverse
Envelope Reverse is an indicator for MetaTrader 4 from the Old Kings collection. Its name points to moving-average envelopes. Its source code uses a price channel. It draws arrows on the chart and can send alerts. It has 2 settings, for example Envelope Period (default 8) and Use Alert (default false). Try it on a demo chart first and note how its lines or arrows react to new bars. 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 Envelope Reverse
Envelope Reverse is an indicator for MetaTrader 4 based on Channels & Envelopes. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 2 settings, such as Envelope period and Use alert. MQL source code included.
Files in the download: Envelope reverse.ex4, Envelope reverse.mq4, Envelope reverse.png.
Settings
| Setting | Default | What it does |
|---|---|---|
| Envelope period | 8 | Envelopes |
| Use alert | 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: Channels & Envelopes · Buy/Sell Arrows · Alerts · MT4 Indicator · MQL4 Source Code