Forex Congestion Breakout Trading System
From the Old Kings archive: Forex Congestion Breakout Trading System, an indicator for MetaTrader 4. Its name points to breakouts from a range. In the code it works with moving averages. It can read another timeframe and shows an on-chart panel. It has 17 settings, for example S1 (default LookBack: 3 to 8 is good), lookback (default 6) and S2 (default TrendEMAPeriod: 3 = best). Try it on a demo chart first and note how its lines or arrows react to new bars. 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 Congestion Breakout Trading System
Forex Congestion Breakout Trading System is an indicator for MetaTrader 4 based on Moving Average. It can show data from another timeframe (MTF) and shows several symbols in one panel. It has 17 settings, such as S1, Lookback and S2. MQL source code included.
Files in the download: congestion breakout.tpl, CongestionBreakOutV2.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| S1 | LookBack: 3 to 8 is good. | |
| Lookback | 6 | |
| S2 | TrendEMAPeriod: 3 = best response. | |
| Trend ema period | 2 | Period or timeframe used by the calculation |
| S3 | Alarm Settings: Default M30 timeframe. | |
| Enable alerts | true | Turn this alert on or off |
| Enable break out voice | true | |
| Enable trend change voice | true | |
| S3a | Alarms at this pip distance beyond line | |
| Outside boundry | 10 | |
| Default sound file | alert.wav | Turn this alert on or off |
| S3b | Lines too far apart don't alarm | |
| Maximum separation to alarm | 80 | lines too far apart will not alarm at breakout |
| S3c | Must jump more than this to alarm. | |
| Minimum separation at jump | 100 | min size of line separation to give trend change alarm at jump |
| Line color | Magenta | Colour on the chart |
| Line size | 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 · Multi-Timeframe (MTF) · Dashboards & Scanners · Moving Average · MT4 Indicator · MQL4 Source Code