Forex Melphoes Stochastic Trading System
Forex Melphoes Stochastic Trading System — a MetaTrader 4 indicator kept in the Old Kings collection. Judging by its name, it is built around the Stochastic oscillator. Its source code uses moving averages. It draws arrows on the chart and can send alerts. It has 37 settings, for example Time Zone Of Data (default 2), Include High (default true) and Include Medium (default true). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 7 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 Melphoes Stochastic Trading System
Forex Melphoes Stochastic Trading System is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 37 settings, such as Time zone of data, Include high and Include medium. MQL source code included.
Files in the download: #Signal_Bars_v6.ex4, CandleTime.mq4, Daily_High_Low.mq4, FFCal_v05a.mq4, Heiken_Ashi_Ma.mq4, installation manual.txt, MA_Crossover_Signal.mq4, NonLagMA_v5.mq4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Time zone of data | 2 | GMT |
| Include high | true | |
| Include medium | true | |
| Include low | false | |
| Include speaks | true | news items with "Speaks" in them have different characteristics |
| Is ea call | false | |
| Alert1 mins before | -1 | Set to -1 for no Alert |
| Alert2 mins before | -1 | Set to -1 for no Alert |
| Enable logging | false | Perhaps remove this from externs once its working well |
| Show next two events | true | |
| Show old news | false | |
| Txt size | 10 | |
| Txt color title | LightGray | Colour on the chart |
| Txt color news | DeepSkyBlue | Colour on the chart |
| Txt color impact | Red | Colour on the chart |
| Txt color previous | Peru | Colour on the chart |
| Txt color forecast | Lime | Colour on the chart |
| Vert txt shift | 21 | how far away below the ask line we want to place our vertical news text |
| Vert left line shift | 900 | how far away to the left of the line we want to place our vertical news text |
| Vert right line shift | 200 | how far away to the left of the line we want to place our vertical news text |
| Vert line color | SlateBlue | color of our vertical news line |
| Vert txt color | Black | color of our vertical text color |
| Vert txt size | 8 | color of our vertical text |
| News corner | 0 | choose which corner to place headlines 0=Upper Left, 1=Upper Right, 2=lower left , 3=lower right |
| Ma metod | 1 | |
| Ma period | 3 | Period or timeframe used by the calculation |
| Faster mode | 1 | 0=sma, 1=ema, 2=smma, 3=lwma |
| Faster ma | 5 | |
| Slower mode | 0 | 0=sma, 1=ema, 2=smma, 3=lwma |
| Slower ma | 8 | |
| Price | 0 | |
| Length | 9 | |
| Displace | 0 | |
| Filter | 3 | |
| Color | 1 | Colour on the chart |
| Color bar back | 0 | Colour on the chart |
| Deviation | 0 |
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: Stochastic · Buy/Sell Arrows · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code