Forex BMI Bands Ichimoku Indicator
This Old Kings indicator for MetaTrader 4 is called Forex BMI Bands Ichimoku Indicator. As the name suggests, the idea behind it is the Ichimoku Kinko Hyo cloud. In the code it works with moving averages. It has 7 settings, for example Ichi Sub Period (default 20), Bol On (default true) and Ichi Band On (default true). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 2 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 BMI Bands Ichimoku Indicator
Forex BMI Bands Ichimoku Indicator is an indicator for MetaTrader 4 based on Moving Average. It has 7 settings, such as Ichi sub period, Bol on and Ichi band on. MQL source code included.
Files in the download: BMI_Bands_ichimoku_2.ex4, BMI_Bands_ichimoku_2.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Ichi sub period | 20 | Period or timeframe used by the calculation |
| Bol on | true | |
| Ichi band on | true | |
| Bands period | 20 | Period or timeframe used by the calculation |
| Bands shift | 0 | Bar shift (0 = current bar) |
| Bol bands deviations | 2.0 | |
| Ichi bands deviations | 2.0 |
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: Ichimoku · Moving Average · MT4 Indicator · MQL4 Source Code