Forex Envelopes Breakout Trading Strategy
This Old Kings indicator for MetaTrader 4 is called Forex Envelopes Breakout Trading Strategy. As the name suggests, the idea behind it is moving-average envelopes and breakouts from a range. In the code it works with moving averages. It draws arrows on the chart, can send alerts and can read another timeframe. It has 16 settings, for example Time Frame1 (default Current time frame), Time Frame2 (default next1) and Time Frame3 (default next2). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 3 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 Envelopes Breakout Trading Strategy
Forex Envelopes Breakout Trading Strategy is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and can show data from another timeframe (MTF). It has 16 settings, such as Time frame1, Time frame2 and Time frame3. MQL source code included.
Files in the download: 4 time frame adaptive smoother Gann hiLo nmc.ex4, 4 time frame adaptive smoother Gann hiLo nmc.mq4, eps_scalp.tpl, installation manual.txt, trend3.ex4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time frame1 | Current time frame | Period or timeframe used by the calculation |
| Time frame2 | next1 | Period or timeframe used by the calculation |
| Time frame3 | next2 | Period or timeframe used by the calculation |
| Time frame4 | next3 | Period or timeframe used by the calculation |
| Lb | 10 | |
| Adapt period | 20 | Period or timeframe used by the calculation |
| Unique id | 4 Time frame assm | |
| Alerts on | false | Turn this alert on or off |
| Alerts level | 3 | Turn this alert on or off |
| Alerts message | true | Turn this alert on or off |
| Alerts sound | false | Turn this alert on or off |
| Alerts email | false | Turn this alert on or off |
| Lines width | 0 | |
| Labels color | DarkGray | Colour on the chart |
| Labels horizontal shift | 5 | Bar shift (0 = current bar) |
| Labels vertical shift | 1.5 | Bar shift (0 = current bar) |
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: Breakout · Channels & Envelopes · Buy/Sell Arrows · Alerts · Multi-Timeframe (MTF) · Moving Average · MT4 Indicator · MQL4 Source Code