Forex Channel Breakout Entry Indicator
Forex Channel Breakout Entry Indicator is an indicator for MetaTrader 4 from the Old Kings collection. Its name points to price channels and breakouts from a range. Its source code uses ATR. It draws arrows on the chart. It has 5 settings, for example Range1 (default 10), Range2 (default 20) and Range3 (default 55). 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 Channel Breakout Entry Indicator
Forex Channel Breakout Entry Indicator is an indicator for MetaTrader 4 based on ATR. It draws buy and sell arrows on the chart. It has 5 settings, such as Range1, Range2 and Range3. MQL source code included.
Files in the download: installation manual.txt, ivchannel_breakout_basic.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Range1 | 10 | |
| Range2 | 20 | |
| Range3 | 55 | |
| Atr factor | 2 | |
| Atr range | 14 |
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: Breakout · Channels & Envelopes · Buy/Sell Arrows · ATR · MT4 Indicator · MQL4 Source Code