Forex Magic Bands Scalping Strategy
Forex Magic Bands Scalping Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to short scalping trades. Its source code uses moving averages. It can send alerts and can read another timeframe. It has 13 settings, for example Time Frame (default current time frame), Smooth1Period (default 12.0) and Smooth1Price (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 Magic Bands Scalping Strategy
Forex Magic Bands Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average. It can alert you with a pop-up, sound, email or push message and can show data from another timeframe (MTF). It has 13 settings, such as Time frame, Smooth1 period and Smooth1 price. MQL source code included.
Files in the download: BBands_Stop_v1.ex4, installation manual.txt, magic bands with bbands stops.tpl, magic bands with pt and ribbon.tpl, Ribbon.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time frame | current time frame | Period or timeframe used by the calculation |
| Smooth1 period | 12.0 | Period or timeframe used by the calculation |
| Smooth1 price | 0 | |
| Smooth1 phase | 0.0 | |
| Smooth2 period | 26.0 | Period or timeframe used by the calculation |
| Smooth2 price | 0 | |
| Smooth2 phase | 0.0 | |
| Interpolate | TRUE | |
| Alerts on | TRUE | Turn this alert on or off |
| Alerts on current | TRUE | Turn this alert on or off |
| Alerts message | TRUE | Turn this alert on or off |
| Alerts sound | FALSE | Turn this alert on or off |
| Alerts email | FALSE | 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 · Alerts · Multi-Timeframe (MTF) · Moving Average · MT4 Indicator · MQL4 Source Code