Forex Pink Channel Trading System
Forex Pink Channel Trading System is an indicator for MetaTrader 4 from the Old Kings collection. Judging by its name, it is built around price channels. Its source code uses MACD and moving averages. It draws arrows on the chart. It has 7 settings, for example Depth (default 12), Deviation (default 5) and Backstep (default 3). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 5 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 Pink Channel Trading System
Forex Pink Channel Trading System is an indicator for MetaTrader 4 based on MACD and Moving Average. It draws buy and sell arrows on the chart. It has 7 settings, such as Depth, Deviation and Backstep. MQL source code included.
Files in the download: #aaZigZag Pointer.mq4, GMMA Long.mq4, GMMA Short.mq4, installation manual.txt, LondonForexRush.ex4, MACD Cross.mq4, pinkfx.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Depth | 12 | |
| Deviation | 5 | |
| Backstep | 3 | Distance between orders |
| Fast ema | 38 | |
| Slow ema | 120 | |
| Macd sma | 20 | |
| Use alert | 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: Channels & Envelopes · Buy/Sell Arrows · MACD · Moving Average · MT4 Indicator · MQL4 Source Code