Envelope Trend Trading System
This Old Kings indicator for MetaTrader 4 is called Envelope Trend Trading System. As the name suggests, the idea behind it is moving-average envelopes and following the trend. In the code it works with RSI and fractals. It draws arrows on the chart. It has 1 setting, for example Period RSI (default 14). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 4 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 Trend Trading System
Envelope Trend Trading System is an indicator for MetaTrader 4 based on RSI and Fractals. It draws buy and sell arrows on the chart. It has 1 setting, such as Period rsi. MQL source code included.
Files in the download: Envelope Trend Trading System\channel-signal.ex4, Envelope Trend Trading System\envelope trend trading system.tpl, Envelope Trend Trading System\Envelope.ex4, Envelope Trend Trading System\Support and Resistance (Barry).mq4, Envelope Trend Trading System\Trend_Bars.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Period rsi | 14 | Number of bars in the calculation |
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 · Trend · Buy/Sell Arrows · RSI · Fractals · MT4 Indicator · MQL4 Source Code