Forex Double MACD Momentum Trading Strategy
This Old Kings indicator for MetaTrader 4 is called Forex Double MACD Momentum Trading Strategy. Judging by its name, it is built around price momentum and MACD (moving average convergence / divergence). It has 40 settings, for example Mo M Period (default 14), T3 Period (default 5) and b (default 0.618). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 11 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 Double MACD Momentum Trading Strategy
Forex Double MACD Momentum Trading Strategy is an indicator for MetaTrader 4. It has 40 settings, such as Mo m period, T3 period and B. MQL source code included.
Files in the download: 001.ex4, 1 arrows & curves.ex4, 001.ex4, 002.ex4, 003.ex4, 004.ex4, 005.ex4, buysell.tpl ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Mo m period | 14 | Period or timeframe used by the calculation |
| T3 period | 5 | Period or timeframe used by the calculation |
| B | 0.618 | |
| Style | 0 | |
| Indicator on | TRUE | |
| Use for forex | TRUE | |
| Use day formula | TRUE | |
| Exit period choices | M1, M5, M15, M30, H1, H4, D1 | Number of bars in the calculation |
| Exit if period greater than | H1 | Number of bars in the calculation |
| _ | ||
| Part 1 | Day Candle & Session Box Settings: | |
| Show day candle | TRUE | |
| Shift day candle right | 49 | Bar shift (0 = current bar) |
| Show today box | TRUE | |
| Today box color | C'0x1E,0x21,0x24' | Colour on the chart |
| Show yesterday box | TRUE | |
| Yesterday box color | C'0x14,0x12,0x29' | Colour on the chart |
| __ | ||
| Part 2 | Pivot Line Start/Stop Settings: | |
| Note1 | Start with fullscreen lines, enter \'1\' | |
| Note2 | Start lines at Day Separator, enter \'2\ | |
| Note3 | Start lines at current candle, enter \'3 | |
| Start lines | 2 | |
| Stop lines at current candle | FALSE | |
| ___ | ||
| Part 3 | Pivot Line Color & Selection Settings: | |
| Central pivot color | Blue | Colour on the chart |
| Cp line style 01234 | 0 | |
| Cp solid line thickness | 1 | |
| Resistance pivots color | FireBrick | Colour on the chart |
| R line style 01234 | 0 | |
| R solid line thickness | 1 | |
| Support pivots color | Green | Colour on the chart |
| S line style 01234 | 0 | |
| S solid line thickness | 1 | |
| Show mid pivots | TRUE | |
| Mid pivots color | C'0x6C,0x6C,0x00' | Colour on the chart |
| M p line style 01234 | 2 | |
| M p solid line thickness | 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: MACD · Momentum · MT4 Indicator · MQL4 Source Code