Forex Advanced Trading Channels Indicator
Forex Advanced Trading Channels Indicator is an indicator for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around price channels. It has 10 settings, for example Start Bar (default 0), Bar Analys (default 400) and k width (default 4). Try it on a demo chart first and note how its lines or arrows react to new bars. 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 Forex Advanced Trading Channels Indicator
Forex Advanced Trading Channels Indicator is an indicator for MetaTrader 4. It has 10 settings, such as Start bar, Bar analys and K width. MQL source code included.
Files in the download: Channels.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Start bar | 0 | from what point the data analysis begins, 0 - from the current one. |
| Bar analys | 400 | the number of bars for analysis in each period up to and including daytime. Not more than 2000! |
| K width | 4 | channel width factor |
| Accuracy | 50 | accuracy of modeling 1-no accuracy, if BarAnalys-max. accuracy. The higher the accuracy, the slower |
| Filter | 0.55 | filter the depth of forming a new channel, it is advisable to use the range 0.382-0.618 |
| Min width | 0 | the minimum average weighted channel width in points, (with smaller width channels will not be forme |
| Max width | 10000 | the maximum average weighted channel width in points, (with a wider width channels will not be forme |
| Ray | true | a sign of continuation of the channel; true - ray, false - segment |
| Max min | true | To build a channel taking into account extreme extremes? |
| Color fill | true | Fill channels? |
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 · MT4 Indicator · MQL4 Source Code