Forex OMA Channel Scalping Strategy
Forex OMA Channel Scalping Strategy — a MetaTrader 4 indicator kept in the Old Kings collection. Judging by its name, it is built around price channels and short scalping trades. Its source code uses RSI. It can send alerts. It has 12 settings, for example color1 (default Red), color2 (default White) and color3 (default Red). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 9 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 OMA Channel Scalping Strategy
Forex OMA Channel Scalping Strategy is an indicator for MetaTrader 4 based on RSI. It can alert you with a pop-up, sound, email or push message. It has 12 settings, such as Color1, Color2 and Color3. MQL source code included.
Files in the download: !FT M-MATH v3.ex4, Average Daily Range.ex4, Heiken Ashi.ex4, Heiken Ashi.mq4, installation manual.txt, PA Dynamic Cycle Explorer.ex4, TradersDynamicIndex.ex4, TradersDynamicIndex.mq4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Color1 | Red | Colour on the chart |
| Color2 | White | Colour on the chart |
| Color3 | Red | Colour on the chart |
| Color4 | White | Colour on the chart |
| Rsi period | 13 | 8-25 |
| Rsi price | MODE_CLOSE | 0-6 |
| Volatility band | 34 | 20-40 |
| Rsi price line | 2 | |
| Rsi price type | MODE_SMA | 0-3 |
| Trade signal line | 7 | |
| Trade signal type | MODE_SMA | 0-3 |
| Use alerts | 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 · Channels & Envelopes · Alerts · RSI · MT4 Indicator · MQL4 Source Code