Forex Correlation Breakout Trading Strategy
Forex Correlation Breakout Trading Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. As the name suggests, the idea behind it is breakouts from a range. It can send alerts, can read another timeframe and shows an on-chart panel. It has 40 settings, for example i PRIPeriod (default 14), i Price (default PRICE_CLOSE) and Range Mode (default HIGH_LOW). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 5 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 Correlation Breakout Trading Strategy
Forex Correlation Breakout Trading Strategy is an indicator for MetaTrader 4. It can alert you with a pop-up, sound, email or push message, can show data from another timeframe (MTF) and shows several symbols in one panel. It has 40 settings, such as I pri period, I price and Range mode. MQL source code included.
It also is set up for gold (XAUUSD).
Files in the download: correl8b.mq4, correlation breakout.tpl, Currency strength Meter.ex4, CurrencyStrengthAlerts.mq4, installation manual.txt, S-B Vo.ex4, SIXTHS SCREEN VER 3.6_DC auto Bar.ex4.
Settings
| Setting | Default | What it does |
|---|---|---|
| I pri period | 14 | Period or timeframe used by the calculation |
| I price | PRICE_CLOSE | |
| Range mode | HIGH_LOW | |
| Time frame | 0 | Period or timeframe used by the calculation |
| Show auto | true | |
| Show all | false | |
| Show eur | false | |
| Show gbp | false | |
| Show aud | false | |
| Show nzd | false | |
| Show chf | false | |
| Show cad | false | |
| Show jpy | false | |
| Show usd | false | |
| Show xau | false | |
| Strong currency | EUR | |
| Strength limit | 6 | |
| Weak currency | USD | |
| Weakness limit | 3 | |
| Send email | 0 | Turn this alert on or off |
| Send notifications | 0 | Turn this alert on or off |
| Alerts | 0 | Turn this alert on or off |
| Alert sound | alert.wav | Turn this alert on or off |
| Screen shots | 0 | |
| Alerts interval minutes | 1 | Turn this alert on or off |
| Font type | Courier New | |
| Font size | 20 | |
| Panel corner | CORNER_LEFT_UPPER | |
| Horizontal position | 10 | |
| Vertical position | 25 | |
| Vertical spacing | 25 | |
| Refresh interval minutes | 0 | |
| Color1 | clrPeru | Colour on the chart |
| Level1 | 7.0 | |
| Color2 | clrOrange | Colour on the chart |
| Level2 | 5.0 | |
| Color3 | clrGold | Colour on the chart |
| Level3 | 2.0 | |
| Color4 | clrRoyalBlue | Colour on the chart |
| Level4 | 0.0 |
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 · Alerts · Multi-Timeframe (MTF) · Dashboards & Scanners · Gold (XAUUSD) · MT4 Indicator · MQL4 Source Code