Forex Laser Trend Scalping Strategy
Forex Laser Trend Scalping Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. As the name suggests, the idea behind it is short scalping trades and following the trend. Its source code uses moving averages and ATR. It draws arrows on the chart and can send alerts. It has 39 settings, for example Renko Box Size1 (default 10.0), Box Shift Percent1 (default 45) and Renko Time Frame1 (default 10). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 15 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 Laser Trend Scalping Strategy
Forex Laser Trend Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average 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 39 settings, such as Renko box size1, Box shift percent1 and Renko time frame1. MQL source code included.
Files in the download: 001.ex4, DoubleMeanRenkoBuilder.ex4, DoubleMeanRenkoBuilder.mq4, i-Daniella.ex4, i-Daniella.mq4, installation manual.txt, laser trend with renko.tpl, Laser Trend.tpl ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Renko box size1 | 10.0 | |
| Box shift percent1 | 45 | Bar shift (0 = current bar) |
| Renko time frame1 | 10 | What time frame to use for the offline renko chart |
| Renko box offset1 | 0 | |
| Show wicks1 | true | |
| Max bars1 | 10000 | |
| Use2nd renko chart | false | |
| Renko box size2 | 8.0 | |
| Box shift percent2 | 50 | Bar shift (0 = current bar) |
| Renko time frame2 | 8 | What time frame to use for the offline renko chart |
| Renko box offset2 | 0 | |
| Show wicks2 | true | |
| Max bars2 | 10000 | |
| Emulate on line chart | true | |
| Ma period | 40 | Period or timeframe used by the calculation |
| Na4 bar | 1 | |
| Step | 4 | Distance between orders |
| Ma shift | -8 | Bar shift (0 = current bar) |
| Ma method | 0 | |
| Name trend line | MA_TL | |
| Out comment | true | Comment written on the orders |
| Shift hrs | 5 | Pivot day shift |
| Renko box size | 3.0 | |
| Renko box offset | 0 | |
| Renko time frame | 7 | Offline Timeframe |
| Show wicks | false | |
| Strange symbol name | false | |
| Note | Wpr levelsOb and Os | |
| Level ob | 90 | |
| Level os | 10 | |
| Price | 0 | |
| Risk | 1 | Risk per trade (percent of balance) |
| Arrows gap | 1.0 | |
| Alerts on | true | Turn this alert on or off |
| Alerts on current | false | Turn this alert on or off |
| Alerts message | true | Turn this alert on or off |
| Alerts sound | true | Turn this alert on or off |
| Alerts email | true | Turn this alert on or off |
| Soundfile | alert2.wav | Turn this alert on or off |
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 · Trend · Buy/Sell Arrows · Alerts · Moving Average · ATR · MT4 Indicator · MQL4 Source Code