Forex HBA System
From the Old Kings archive: Forex HBA System, an indicator for MetaTrader 4. In the code it works with moving averages and Bollinger Bands. It draws arrows on the chart and can send alerts. It has 12 settings, for example Length (default 20), Deviation (default 2) and Money Risk (default 1.00). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 6 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 HBA System
Forex HBA System is an indicator for MetaTrader 4 based on Moving Average and Bollinger Bands. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 12 settings, such as Length, Deviation and Money risk. MQL source code included.
Files in the download: Forex HBA System\indicators\HBB.ex4, Forex HBA System\indicators\HBB.mq4, Forex HBA System\indicators\HBF.ex4, Forex HBA System\indicators\HBF.mq4, Forex HBA System\indicators\HBH.ex4, Forex HBA System\indicators\HBH.mq4, Forex HBA System\template\hba tpl.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Length | 20 | |
| Deviation | 2 | |
| Money risk | 1.00 | Risk per trade (percent of balance) |
| Signal | 1 | |
| Line | 1 | |
| Nbars | 1000 | |
| Sound on | true | Turn this alert on or off |
| Range periods | 30 | Number of bars in the calculation |
| Price smoothing | 0.3 | |
| Index smoothing | 0.3 | |
| Ma metod | 1 | |
| Ma period | 15 | Period or timeframe used by the calculation |
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: Buy/Sell Arrows · Alerts · Moving Average · Bollinger Bands · MT4 Indicator · MQL4 Source Code