Forex Doda Donchian Stop Loss Feature Indicator
From the Old Kings archive: Forex Doda Donchian Stop Loss Feature Indicator, an indicator for MetaTrader 4. Judging by its name, it is built around Donchian channels. In the code it works with moving averages. It draws arrows on the chart and can send alerts. It has 5 settings, for example Channel Period (default 28), EMAPeriod (default 120) and Start EMAShift (default 6). 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 · v1.0 · Free
About Forex Doda Donchian Stop Loss Feature Indicator
Forex Doda Donchian Stop Loss Feature Indicator is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 5 settings, such as Channel period, Ema period and Start ema shift. MQL source code included.
Files in the download: Doda-Donchian.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Channel period | 28 | from 28 to 20 |
| Ema period | 120 | Period or timeframe used by the calculation |
| Start ema shift | 6 | Bar shift (0 = current bar) |
| End ema shift | 0 | Bar shift (0 = current bar) |
| Angle treshold | 0.32 |
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: Channels & Envelopes · Buy/Sell Arrows · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code