Forex Channels Fibo Trading Indicator
From the Old Kings archive: Forex Channels Fibo Trading Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is Fibonacci retracement or extension levels and price channels. In the code it works with moving averages. It can send alerts. It has 9 settings, for example extremum Depth (default 78), ma Period (default 100) and ma Method (default MODE_SMA). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. 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 Channels Fibo Trading Indicator
Forex Channels Fibo Trading Indicator is an indicator for MetaTrader 4 based on Moving Average. It can alert you with a pop-up, sound, email or push message. It has 9 settings, such as I extremum depth, I ma period and I ma method. MQL source code included.
Files in the download: channelsfibo_ad.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| I extremum depth | 78 | Depth extremum search / |
| I ma period | 100 | MA period / MA |
| I ma method | MODE_SMA | MA method / |
| I ma price | PRICE_CLOSE | MA price / |
| I fibo level1 | 23.6 | Fibo level 1 / 1 |
| I fibo level2 | 38.2 | Fibo level 2 / 2 |
| I fibo level3 | 50.0 | Fibo level 3 / 3 |
| I fibo level4 | 61.8 | Fibo level 4 / 4 |
| I ind bars count | 10000 | Number of bars to display / - |
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 · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code