Forex PA Momentum Wave Scalping Strategy
From the Old Kings archive: Forex PA Momentum Wave Scalping Strategy, an indicator for MetaTrader 4. Judging by its name, it is built around price momentum, wave counting in the Elliott style and short scalping trades. In the code it works with the Stochastic oscillator, moving averages, ATR and an oscillator. It draws arrows on the chart and can send alerts. It has 40 settings, for example Time Zone Of Data (default 0), Time Zone Of Session (default 0) and ATRPeriod (default 5). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 33 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 PA Momentum Wave Scalping Strategy
Forex PA Momentum Wave Scalping Strategy is an indicator for MetaTrader 4 based on Stochastic, Moving Average, ATR and Oscillator. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 40 settings, such as Time zone of data, Time zone of session and Atr period. MQL source code included.
Files in the download: ! 1.2_#easy_2_only_5-7_trendwave_chart.tpl, ! 1_#easy_2_only_5-7_trendwave_chart.tpl, !MoneyLine2.ex4, !MoneyLine2.mq4, 1min Power Line.ex4, 1_NEW ABHAFXS TIMING V2_5-1_modified_30_chart_window.ex4, 1_NEW ABHAFXS TIMING V2_5-1_modified_30_chart_window.mq4, 1_NEW ABHAFXS TIMING V2_5-1_modified_chart_window_100.ex4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Time zone of data | 0 | chart time zone (from GMT) |
| Time zone of session | 0 | dest time zone (from GMT) |
| Atr period | 5 | period for ATR |
| Use manual adr | false | allows use of manual value for range |
| Manual adr value pips | 0 | manual value for range |
| Line style | 2 | |
| Line thickness1 | 1 | normal thickness |
| Line color1 | Orange | normal color |
| Line thickness2 | 2 | thickness for range reached state |
| Line color2 | Blue | color for range reached state |
| Bar for labels | -10 | number of bars from right, where lines labels will be shown |
| Debug logger | false | |
| Send email | true | Turn this alert on or off |
| About | <<< Place Stoploss v1 >>> | |
| Set stop loss | true | Stop loss distance |
| Set take profit | true | Take profit distance |
| Sl exp | <<< StopLoss >>> | |
| Stop loss exp | 1=Fixed Pips 2=ATR Multiple | Stop loss distance |
| Stop loss method | 1 | Stop loss distance |
| Fixed sl | 5 | |
| Stop loss atr | 0.7 | Stop loss distance |
| Tp exp | <<< TakeProfit >>> | |
| Take profit exp | 1=Fixed Pips 2=ATR Multiple | Take profit distance |
| Take profit method | 1 | Take profit distance |
| Fixed tp | 10 | |
| Take profit atr | 1.8 | Take profit distance |
| Atr exp | <<< ATR Setting >>> | |
| Tf note | 0=Chart 1=M1 2=M5 3=M15 4=M30 5=1H 6=4H | |
| Atr time frame | 7 | Period or timeframe used by the calculation |
| Atr period | 30 | Period or timeframe used by the calculation |
| About misc | <<< Miscellaneous >>> | |
| Alert on | false | Turn this alert on or off |
| WPR1 | *** WPR1 *** | |
| T3 period | 8 | Period or timeframe used by the calculation |
| B | 0.7 | |
| Per | 14 | |
| Psel | 30 | |
| Pbuy | -30 | |
| WPR2 | *** WPR2 *** | |
| T3 period 2 | 8 | Number of bars in the calculation |
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 · Momentum · Buy/Sell Arrows · Alerts · Stochastic · Moving Average · ATR · Oscillator · MT4 Indicator · MQL4 Source Code