Forex Donchian Channel Fibbed Levels Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Donchian Channel Fibbed Levels Indicator. As the name suggests, the idea behind it is Donchian channels and price channels. It draws arrows on the chart and can send alerts. It has 24 settings, for example Hello From (default www.Brooky-Indicators.c), Setting 1 (default +-- Bars Back between Pe) and periods (default 96). 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 Donchian Channel Fibbed Levels Indicator
Forex Donchian Channel Fibbed Levels Indicator is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 24 settings, such as Hello from, Setting 1 and Periods. MQL source code included.
Files in the download: Brooky_Fibbed_Donchian.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Hello from | www.Brooky-Indicators.com | |
| Setting 1 | +-- Bars Back between Peaks and Troughs | |
| Periods | 96 | Number of bars in the calculation |
| Setting 1a | +-- Use Hi Lo or Close Prices --+ | |
| Use closes | false | |
| Shift ahead | 0 | Bar shift (0 = current bar) |
| Setting 2 | +-- % change: Reduces by % value --+ | |
| Percent range change | 50 | |
| Setting 3 | +-- Inner Line Fib Levels --+ | |
| Fib1 | 0.236 | |
| Fib2 | 0.382 | |
| Setting 4 | +-- Fib Line Style 0 to 4 --+ | |
| Setting 4a | + 0=Solid, 1=Dash, 2=DashDot, 3=DashDotD | |
| Line style | 2 | |
| Setting 5 | +-- Centre Line Style 0 to 4 --+ | |
| Mean line style | 0 | |
| Setting 6 | +-- See Line Prices --+ | |
| See all prices | false | |
| See main prices | true | |
| Label size | 2 | |
| Setting 7 | +-- Sound Alert --+ | |
| Alerts on | true | Turn this alert on or off |
| Alert mean line cross | true | Turn this alert on or off |
| Alert channel line cross | true | Turn this alert on or off |
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 · MT4 Indicator · MQL4 Source Code