Forex Balance True Range Indicator
Forex Balance True Range Indicator — a MetaTrader 4 indicator kept in the Old Kings collection. Its source code uses ATR. It has 21 settings, for example You Are Following Another (default (www.Brooky-Indicators.c), OBTR Concept By (default Tom Bierovic) and Basic Codebase (default Metaquotes). Load it on a demo chart and check whether its signals repaint before trusting them. 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 Balance True Range Indicator
Forex Balance True Range Indicator is an indicator for MetaTrader 4 based on ATR. It has 21 settings, such as You are following another, Obtr concept by and Basic codebase. MQL source code included.
Files in the download: installation manual.txt, OBTR.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| You are following another | (www.Brooky-Indicators.com) Indicator | |
| Obtr concept by | Tom Bierovic | |
| Basic codebase | Metaquotes | |
| This indi coder | www.Brooky-Indicators.com | |
| Ma modes | 0=sma, 1=ema, 2=smma, 3=lwma | |
| Price modes | 0=Cl, 1=Op, 2=Hi, 3=Lo | |
| Price modes2 | 4=Med, 5=Typ, 6=Weight | |
| Div1 | ---------------------------------------- | |
| Fast ma | Smoothing | |
| Fast ma period | 1 | Period or timeframe used by the calculation |
| Fast mode | 0 | |
| Fast shift | 0 | Bar shift (0 = current bar) |
| Slow ma period | 26 | Period or timeframe used by the calculation |
| Slow mode | 0 | |
| Slow shift | 0 | Bar shift (0 = current bar) |
| Div2 | ---------------------------------------- | |
| Holding | Ma OBTR Distance Settings | |
| Proximity | 11 | |
| Distance max | 126 | Distance between orders |
| Obtr price | Set Price for Calculations | |
| Obtr price mode | 0 |
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: ATR · MT4 Indicator · MQL4 Source Code