Forex Donchian Fibonacci Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Donchian Fibonacci Indicator. As the name suggests, the idea behind it is Fibonacci retracement or extension levels and Donchian channels. It draws arrows on the chart. It has 11 settings, for example Copyright (default http://donforex.com), Donchian Period (default 55) and Ignore Candle Wicks (default false). 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 Fibonacci Indicator
Forex Donchian Fibonacci Indicator is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart. It has 11 settings, such as Copyright, Donchian period and Ignore candle wicks. MQL source code included.
Files in the download: DF-DonchianFibo.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Copyright | http://donforex.com | |
| Donchian period | 55 | Period or timeframe used by the calculation |
| Ignore candle wicks | false | |
| Show prices | true | |
| Val 1 color | clrOrchid | Colour on the chart |
| Val 2 color | clrDarkOrange | Colour on the chart |
| Val 3 color | clrChartreuse | Colour on the chart |
| Val 4 color | clrSteelBlue | Colour on the chart |
| Val 5 color | clrChartreuse | Colour on the chart |
| Val 6 color | clrDarkOrange | Colour on the chart |
| Val 7 color | clrOrchid | Colour on the chart |
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 · Buy/Sell Arrows · MT4 Indicator · MQL4 Source Code