Forex Hodrick Prescott Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Hodrick Prescott Indicator. It draws arrows on the chart, can send alerts and can read another timeframe. It has 16 settings, for example nobs (default 150), lambda (default 1600) and timeframe (default 0). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. 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 Hodrick Prescott Indicator
Forex Hodrick Prescott Indicator is an indicator for MetaTrader 4. 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 Nobs, Lambda and Timeframe. MQL source code included.
Files in the download: HPMA102.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Nobs | 150 | Number of bars to process for filter evaluation |
| Lambda | 1600 | Higher lambda leads to the smoother data |
| Timeframe | 0 | The applied timeframe, 0=the same as chart |
| Price | PRICE_CLOSE | The applied price |
| Delay | 0 | Shows the result of delaying (or advancing if negative) the HP filter |
| Trend | 10 | how many consecutive filter bars to check to determine trend |
| Future | 8 | How many bars in the future to display for the HP filter |
| Bands | 0 | how many bars to include in bands calculation |
| Band1 | 2 | deviations for first band |
| Band2 | 2 | deviations for second Band |
| Type2 | 0 | Type for second band as above |
| Repaint | FALSE | To repaint last bar, FALSE for faster execution |
| Points | FALSE | Plot up/downtrend as points instead of line |
| Alerts | FALSE | Enable visual alert |
| Audio | alert.wav | Enable audioalert |
| History | 500 | history bars to display on initialisation, 0 means all history |
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 · Multi-Timeframe (MTF) · MT4 Indicator · MQL4 Source Code