Forex Channels Fibo V2 Indicator
Forex Channels Fibo V2 Indicator — a MetaTrader 4 indicator kept in the Old Kings collection. Judging by its name, it is built around Fibonacci retracement or extension levels and price channels. This copy is version 2. Its source code uses moving averages. It can send alerts. It has 10 settings, for example extremum Depth (default 78), ma Period (default 100) and ma Method (default MODE_SMA). 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 · v2 · Free
About Forex Channels Fibo V2 Indicator
Forex Channels Fibo V2 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 10 settings, such as I extremum depth, I ma period and I ma method. MQL source code included.
Files in the download: ChannelsFIBO_v2_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 | 61.8 | Fibo level 1 / 1 |
| I fibo level2 | 100.0 | Fibo level 2 / 2 |
| I fibo level3 | 161.8 | Fibo level 3 / 3 |
| I fibo level4 | 200.0 | Fibo level 4 / 4 |
| I shift method | SHIFT_STD | Channel calculate method / |
| 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