Forex Magic Formula Trading Strategy
Forex Magic Formula Trading Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. Its source code uses moving averages and Bollinger Bands. It draws arrows on the chart and can send alerts. It has 5 settings, for example Fast EMA (default 12), Slow EMA (default 26) and Signal EMA (default 9). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 3 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 Formula Trading Strategy
Forex Magic Formula Trading Strategy 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 5 settings, such as Fast ema, Slow ema and Signal ema. MQL source code included.
Files in the download: installation manual.txt, MACD 2Line.mq4, Magic Fx Formula.ex4, Magic Fx Formula.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Fast ema | 12 | |
| Slow ema | 26 | |
| Signal ema | 9 | |
| Alert on | TRUE | Turn this alert on or off |
| TRUE | 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: Buy/Sell Arrows · Alerts · Moving Average · Bollinger Bands · MT4 Indicator · MQL4 Source Code