Forex Four Bollinger Bands Scalping Strategy
Forex Four Bollinger Bands Scalping Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. Judging by its name, it is built around Bollinger Bands and short scalping trades. Its source code uses RSI, the Stochastic oscillator and ATR. It draws arrows on the chart and can send alerts. It has 40 settings, for example Sound ON (default false), Email ON (default false) and KPeriod (default 5). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 13 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 Four Bollinger Bands Scalping Strategy
Forex Four Bollinger Bands Scalping Strategy is an indicator for MetaTrader 4 based on RSI, Stochastic and ATR. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 40 settings, such as Sound on, Email on and K period. MQL source code included.
Files in the download: #Stochastic_Cross_Alert_SigOverlayM_cw.ex4, #Stochastic_Cross_Alert_SigOverlayM_cw.mq4, four bollinger bands stop scalping system.tpl, i-ParamonWorkTime.ex4, i-ParamonWorkTime.mq4, i-Sessions-02.ex4, i-Sessions-02.mq4, installation manual.txt ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Sound on | false | Turn this alert on or off |
| Email on | false | Turn this alert on or off |
| K period | 5 | Period or timeframe used by the calculation |
| D period | 3 | Period or timeframe used by the calculation |
| Slowing | 3 | |
| Ma method | 0 | SMA 0, EMA 1, SMMA 2, LWMA 3 |
| Price field | 0 | Low/High 0, Close/Close 1 |
| Over bought level | 80 | |
| Over sold level | 20 | |
| Show kd cross | false | |
| Show k obo scross | true | |
| Show d obo scross | false | |
| Note price | PriceField: Low/High = 0, Close/Close = | |
| Ma method | SMA0 EMA1 SMMA2 LWMA3 | |
| Number of days | 50 | |
| Begin 1 | 07:00 | Hour when trading starts (server time) |
| End 1 | 11:00 | |
| Color 1 | BlanchedAlmond | Colour on the chart |
| Begin 2 | 13:00 | Hour when trading starts (server time) |
| End 2 | 17:00 | |
| Color 2 | Lavender | Colour on the chart |
| Begin 3 | 19:00 | Hour when trading starts (server time) |
| End 3 | 23:00 | |
| Color 3 | MistyRose | Colour on the chart |
| High range | False | |
| S1 begin | 00:55 | Hour when trading starts (server time) |
| S1 end | 03:55 | |
| S1 color | DarkSlateGray | Colour on the chart |
| S2 begin | 03:55 | Hour when trading starts (server time) |
| S2 end | 06:55 | |
| S2 color | DarkSlateGray | Colour on the chart |
| S3 begin | 06:55 | Hour when trading starts (server time) |
| S3 end | 09:55 | |
| S3 color | DarkSlateGray | Colour on the chart |
| S4 begin | 09:55 | Hour when trading starts (server time) |
| S4 end | 12:55 | |
| S4 color | DarkSlateGray | Colour on the chart |
| S5 begin | 12:55 | Hour when trading starts (server time) |
| S5 end | 15:55 | |
| S5 color | DarkSlateGray | 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: Scalping · Bollinger Bands · Buy/Sell Arrows · Alerts · RSI · Stochastic · ATR · MT4 Indicator · MQL4 Source Code