Forex Fractal Channel Version Five Indicator
From the Old Kings archive: Forex Fractal Channel Version Five Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is Bill Williams fractals (swing highs / lows) and price channels. It has 9 settings, for example Fractal Size (default 1), Price Mode (default 0) and Margins (default 0). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 2 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 Fractal Channel Version Five Indicator
Forex Fractal Channel Version Five Indicator is an indicator for MetaTrader 4. It has 9 settings, such as Fractal size, Price mode and Margins. MQL source code included.
Files in the download: fractalchannel_v5.ex4, fractalchannel_v5.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Fractal size | 1 | Fractal Size in bars (ex. 1-3 bars,2-5 bars,3-7 bars) |
| Price mode | 0 | Apply to : 0-High/Low,1-Open/Close |
| Margins | 0 | Narrowing ration (ex.0.3) |
| Shift | 0 | Displace in bars (ex. 1 or -1) |
| Mode | 0 | Channel Mode: 0-default,1-similar to Fractal Chaos Bands |
| Display text | 0 | 0-off,1-on |
| Text color | White | Colour on the chart |
| Text size | 8 | |
| Text delta | 0 | Text deviation in pips |
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: Fractals · Channels & Envelopes · MT4 Indicator · MQL4 Source Code