Forex Elders Safe Zone Indicator
From the Old Kings archive: Forex Elders Safe Zone Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is price zones drawn on the chart. In the code it works with moving averages. It has 4 settings, for example Look Back (default 10), Stop Factor (default 3) and EMALength (default 13). Try it on a demo chart first and note how its lines or arrows react to new bars. 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 Elders Safe Zone Indicator
Forex Elders Safe Zone Indicator is an indicator for MetaTrader 4 based on Moving Average. It has 4 settings, such as Look back, Stop factor and Ema length. MQL source code included.
Files in the download: EldersSafeZone.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Look back | 10 | |
| Stop factor | 3 | |
| Ema length | 13 | |
| Line color | Aquamarine | 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: Moving Average · MT4 Indicator · MQL4 Source Code