Forex 55 EMA Channel Swing Trading Strategy
Forex 55 EMA Channel Swing Trading Strategy is an indicator for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around moving averages and price channels. Its source code uses MACD, RSI and the Stochastic oscillator. It draws arrows on the chart, can send alerts and can read another timeframe. It has 40 settings, for example Take Profit (default 10), Stop Loss (default 15) and Min Pips To Activate (default 5). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 32 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 Forex 55 EMA Channel Swing Trading Strategy
Forex 55 EMA Channel Swing Trading Strategy is an indicator for MetaTrader 4 based on MACD, RSI and Stochastic. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and can show data from another timeframe (MTF). It has 40 settings, such as Take profit, Stop loss and Min pips to activate. MQL source code included.
Files in the download: Bemac Trade Manager v0.1.ex4, Bemac Trade Manager v0.1.mq4, #Pallada_Volatility.ex4, #Pallada_Volatility.mq4, 2MA Crossover.ex4, 2MA Crossover.mq4, Bands Level.ex4, Bands Level.mq4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Take profit | 10 | Take profit distance |
| Stop loss | 15 | Stop loss distance |
| Min pips to activate | 5 | |
| Percentage trail behind price | 30 | Trailing stop distance or switch |
| Show status | true | Show status of trade management in action |
| Pos x | 10 | |
| Pos y | 15 | |
| Corner | 1 | |
| N | 20 | |
| Note1 | First Moving Average | |
| MA1 | 4 | |
| Note2 | 0=sma, 1=ema, 2=smma, 3=lwma | |
| Ma1 mode | 1 | 0=sma, 1=ema, 2=smma, 3=lwma |
| Note3 | ---------------------------------------- | |
| Note4 | Second Moving Average | |
| MA2 | 8 | |
| Note5 | 0=sma, 1=ema, 2=smma, 3=lwma | |
| Ma2 mode | 1 | 0=sma, 1=ema, 2=smma, 3=lwma |
| Note6 | ---------------------------------------- | |
| Note7 | Arrow Type | |
| Note8 | 0=Thick, 1=Thin, 2=Hollow, 3=Round | |
| Note9 | 4=Fractal, 5=Diagonal Thin | |
| Note10 | 6=Diagonal Thick, 7=Diagonal Hollow | |
| Note11 | 8=Thumb, 9=Finger | |
| Arrow type | 2 | |
| Note12 | ---------------------------------------- | |
| Alert on | true | Turn this alert on or off |
| Note14 | ---------------------------------------- | |
| Send an email | false | Turn this alert on or off |
| Bands period | 365 | Period or timeframe used by the calculation |
| Bands shift | 0 | Bar shift (0 = current bar) |
| Bands deviations | 2.0 | |
| Show bands | false | |
| Middle bands | true | |
| Upper bands | true | |
| Lower bands | true | |
| Uppercolor | Red | Colour on the chart |
| Lowercolor | Blue | Colour on the chart |
| Middlecolor | White | Colour on the chart |
| Textcolor | Aqua | Colour on the chart |
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: Moving Average · Channels & Envelopes · Buy/Sell Arrows · Alerts · Multi-Timeframe (MTF) · MACD · RSI · Stochastic · MT4 Indicator · MQL4 Source Code