Forex Channel Based Fibo Levels Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Channel Based Fibo Levels Indicator. Judging by its name, it is built around Fibonacci retracement or extension levels and price channels. In the code it works with moving averages. It has 5 settings, for example Bars Count (default 500), MAPeriod (default 100) and MAMethod (default MODE_SMA). 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 Channel Based Fibo Levels Indicator
Forex Channel Based Fibo Levels Indicator is an indicator for MetaTrader 4 based on Moving Average. It has 5 settings, such as Bars count, Ma period and Ma method. MQL source code included.
Files in the download: installation manual.txt, MA_Chanels_FIBO.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bars count | 500 | |
| Ma period | 100 | Period or timeframe used by the calculation |
| Ma method | MODE_SMA | |
| Ma price | PRICE_CLOSE | |
| Fontsize | 10 |
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: Fibonacci · Channels & Envelopes · Moving Average · MT4 Indicator · MQL4 Source Code