Forex Bands Filter Volatility Trading Strategy
This Old Kings indicator for MetaTrader 4 is called Forex Bands Filter Volatility Trading Strategy. As the name suggests, the idea behind it is market volatility. It can read another timeframe. It has 40 settings, for example Pivot Set (default PIVOTSET_DAILY), Day Start Hour (default 9) and Indicator On (default TRUE). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 5 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 Bands Filter Volatility Trading Strategy
Forex Bands Filter Volatility Trading Strategy is an indicator for MetaTrader 4. It can show data from another timeframe (MTF). It has 40 settings, such as Pivot set, Day start hour and Indicator on. MQL source code included.
Files in the download: Pivot Points.mq4, Pivots.ex4, PivotsD_v5 (Black).ex4, PivotsD_v5 (Black).mq4, Super Passband Filter 1.1.mq4, Volatility Bands Filter.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Pivot set | PIVOTSET_DAILY | |
| Day start hour | 9 | Metaquotes is +2 GMT |
| Indicator on | TRUE | |
| Use for forex | TRUE | |
| Use day formula | TRUE | |
| Exit period choices | M1, M5, M15, M30, H1, H4, D1 | Number of bars in the calculation |
| Exit if period greater than | H1 | Number of bars in the calculation |
| _ | ||
| Part 1 | Day Candle & Session Box Settings: | |
| Show day candle | TRUE | |
| Shift day candle right | 49 | Bar shift (0 = current bar) |
| Show today box | TRUE | |
| Today box color | C'0x1E,0x21,0x24' | Colour on the chart |
| Show yesterday box | TRUE | |
| Yesterday box color | C'0x14,0x12,0x29' | Colour on the chart |
| __ | ||
| Part 2 | Pivot Line Start/Stop Settings: | |
| Note1 | Start with fullscreen lines, enter \'1\' | |
| Note2 | Start lines at Day Separator, enter \'2\ | |
| Note3 | Start lines at current candle, enter \'3 | |
| Start lines | 2 | |
| Stop lines at current candle | FALSE | |
| ___ | ||
| Part 3 | Pivot Line Color & Selection Settings: | |
| Central pivot color | Blue | Colour on the chart |
| Cp line style 01234 | 0 | |
| Cp solid line thickness | 1 | |
| Resistance pivots color | FireBrick | Colour on the chart |
| R line style 01234 | 0 | |
| R solid line thickness | 1 | |
| Support pivots color | Green | Colour on the chart |
| S line style 01234 | 0 | |
| S solid line thickness | 1 | |
| Show mid pivots | TRUE | |
| Mid pivots color | C'0x6C,0x6C,0x00' | Colour on the chart |
| M p line style 01234 | 2 | |
| M p solid line thickness | 1 | |
| ____ | ||
| Part 4 | Pivot Label Settings: | |
| Pivot labels color | DarkGray | 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: Multi-Timeframe (MTF) · MT4 Indicator · MQL4 Source Code