Forex MTF Fib Breakout Indicator 2
From the Old Kings archive: Forex MTF Fib Breakout Indicator 2, an indicator for MetaTrader 4. Judging by its name, it is built around Fibonacci retracement or extension levels, breakouts from a range and several timeframes at once. In the code it works with the Stochastic oscillator. It draws arrows on the chart, can send alerts and can read another timeframe. It has 13 settings, for example note1 (default Current timeframe = 0, 3), note2 (default 1H chart = 60, 4H chart ) and Time Frame (default 0). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 1 indicator file 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 MTF Fib Breakout Indicator 2
Forex MTF Fib Breakout Indicator 2 is an indicator for MetaTrader 4 based on Stochastic. It draws buy and sell arrows on the chart, 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 Note1, Note2 and Time frame. MQL source code included.
Files in the download: installation manual.txt, MTF_Stoch_FibBreak_1_3.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Note1 | Current timeframe = 0, 30M chart = 30 | |
| Note2 | 1H chart = 60, 4H chart = 240 | |
| Time frame | 0 | Period or timeframe used by the calculation |
| Note3 | First Stochastic | |
| K1 | 5 | |
| D1 | 3 | |
| Slowing1 | 3 | |
| Note4 | Second Stochastic | |
| K2 | 14 | |
| D2 | 3 | |
| Slowing2 | 3 | |
| Alert on | false | Turn this alert on or off |
| Dots drawing | true |
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: Breakout · Fibonacci · Multi-Timeframe (MTF) · Buy/Sell Arrows · Alerts · Stochastic · MT4 Indicator · MQL4 Source Code