Forex Channel MA Breakout Trading Strategy
This Old Kings indicator for MetaTrader 4 is called Forex Channel MA Breakout Trading Strategy. Its name points to moving averages, price channels and breakouts from a range. In the code it works with moving averages and fractals. It draws arrows on the chart and can send alerts. It has 17 settings, for example Show Chart Alerts (default true), Alert Email Subject and Send Push Notification (default false). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 9 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 MA Breakout Trading Strategy
Forex Channel MA Breakout Trading Strategy is an indicator for MetaTrader 4 based on Moving Average and Fractals. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 17 settings, such as Show chart alerts, Alert email subject and Send push notification. MQL source code included.
Files in the download: Bollinger Bands.ex4, ESMA1.ex4, fxoe_SHI_Channel_true.ex4, goldsilver-trading-system2.tpl, Heiken Ashi.ex4, Launcher Directional Indicator.ex4, Trend1.ex4, wccisqueeze v2.ex4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Show chart alerts | true | Turn this alert on or off |
| Alert email subject | Turn this alert on or off | |
| Send push notification | false | Turn this alert on or off |
| Sound alerts | false | Turn this alert on or off |
| Sound file up | alert.wav | Turn this alert on or off |
| Sound file down | alert2.wav | Turn this alert on or off |
| Bar count | 1000 | |
| Signal at blue dot | 3 | |
| Signal at red dot | 3 | |
| Show dots on screen | true | |
| Channel length | 10 | |
| Average length | 21 | |
| Signal length | 4 | |
| Overbought level1 | 50. | |
| Oversold level1 | -60. | |
| Overbought level2 | 53. | |
| Oversold level2 | -53. |
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 · Moving Average · Channels & Envelopes · Buy/Sell Arrows · Alerts · Fractals · MT4 Indicator · MQL4 Source Code