Forex Keltner Channel ATR V2 Indicator
This Old Kings indicator for MetaTrader 4 is called Forex Keltner Channel ATR V2 Indicator. As the name suggests, the idea behind it is ATR volatility, Keltner channels and price channels. The file name marks it as version 2. In the code it works with moving averages and ATR. It draws arrows on the chart. It has 20 settings, for example MA PERIOD (default 1), MA MODE (default 0) and PRICE MODE (default 5). Load it on a demo chart and check whether its signals repaint before trusting them. 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 · v2 · Free
About Forex Keltner Channel ATR V2 Indicator
Forex Keltner Channel ATR V2 Indicator is an indicator for MetaTrader 4 based on Moving Average and ATR. It draws buy and sell arrows on the chart. It has 20 settings, such as Ma period, Ma mode and Price mode. MQL source code included.
Files in the download: atr-channelkeltnerchannel_v2.ex4, atr-channelkeltnerchannel_v2.mq4, installation manual.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Ma period | 1 | Period or timeframe used by the calculation |
| Ma mode | 0 | |
| Price mode | 5 | |
| Use hi lo | true | |
| Atr period | 14 | Period or timeframe used by the calculation |
| Atr multiplier | 1.0 | How much the lot size grows after a loss |
| Shift | 1 | Bar shift (0 = current bar) |
| Draw lines note | Draw = 1, Donot draw = 12 | |
| Draw upper line | 1 | |
| Draw lower line | 1 | |
| Draw mid line | 12 | |
| Draw hi lo lines | 12 | |
| Draw breakout points note | Draw = 3, Donot draw = 12 | |
| Draw breakout points | 3 | |
| Ucbo note | only Close Breakouts = true, High/Low Br | |
| Use close breakouts only | true | |
| Windings note | http://docs.mql4.com/constants/wingdings | |
| Windings | 164 | |
| Breakout points distance | 0.0003 | Distance between orders |
| Atr mode | false |
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: ATR · Channels & Envelopes · Buy/Sell Arrows · Moving Average · MT4 Indicator · MQL4 Source Code