Forex Channel Kill Breakout Trading Strategy
Forex Channel Kill Breakout Trading Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to price channels and breakouts from a range. Its source code uses RSI, moving averages and Momentum. It draws arrows on the chart, can send alerts and can read another timeframe. It has 40 settings, for example note1 (default Fibonacci colors), Upper Fibo Color (default Navy) and Main Fibo Color (default RoyalBlue). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 46 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 Channel Kill Breakout Trading Strategy
Forex Channel Kill Breakout Trading Strategy is an indicator for MetaTrader 4 based on RSI, Moving Average and Momentum. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and can show data from another timeframe (MTF). It has 40 settings, such as Note1, Upper fibo color and Main fibo color. MQL source code included.
Files in the download: #SpudFibo.ex4, #SpudFibo.mq4, $TrillionStrategySessions.ex4, $TrillionStrategySessions.mq4, 200EMA_Magix~.ex4, 200EMA_Magix~.mq4, 5mplay3.tpl, DMI.ex4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Note1 | Fibonacci colors | |
| Upper fibo color | Navy | Colour on the chart |
| Main fibo color | RoyalBlue | Colour on the chart |
| Lower fibo color | DodgerBlue | Colour on the chart |
| Note2 | Draw main Fibonacci lines? | |
| Inner fibs | true | |
| Time shift | 0 | set to = 16:00 New York on your broker feed |
| Previous session h m l | false | |
| Show yesterdays close | true | |
| Show yesterdays open | true | |
| Line color open | Blue | Colour on the chart |
| Line width open | 3 | |
| Line color close | Red | Colour on the chart |
| Line width close | 3 | |
| Smooth | 14 | |
| Hide di plus | False | |
| Hide di minus | False | |
| Hide dx | true | |
| Hide adx | true | |
| Hide adxr | true | |
| Faster ema | 5 | |
| Slower ema | 8 | |
| Sound on | true | Turn this alert on or off |
| Local hrs server tz from gmt | 0 | |
| Destination hrs new t zfrom gmt | 0 | |
| Show 1 daily 2 fibonacci pivots | 2 | |
| Full screen lines margin prices | FALSE | |
| Move labels lr decr incr | 0 | |
| R5 color | Red | Colour on the chart |
| R5 line style 01234 | 2 | |
| R5 solid line thickness | 1 | |
| R4 color | Red | Colour on the chart |
| R4 line style 01234 | 2 | |
| R4 solid line thickness | 1 | |
| R3 color | Red | Colour on the chart |
| R3 line style 01234 | 2 | |
| R3 solid line thickness | 1 | |
| R2 color | Crimson | Colour on the chart |
| R2 line style 01234 | 2 | |
| R2 solid line thickness | 1 |
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 · Alerts · Multi-Timeframe (MTF) · RSI · Moving Average · Momentum · MT4 Indicator · MQL4 Source Code