Forex Price Action Channel Scalping Strategy
This Old Kings indicator for MetaTrader 4 is called Forex Price Action Channel Scalping Strategy. As the name suggests, the idea behind it is price action (reading the candles themselves), price channels and short scalping trades. In the code it works with moving averages, CCI and ATR. It draws arrows on the chart. It has 25 settings, for example Count Periods (default 20), Time Period (default D1) and Plot pivots (default true). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 4 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 Price Action Channel Scalping Strategy
Forex Price Action Channel Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average, CCI and ATR. It draws buy and sell arrows on the chart. It has 25 settings, such as Count periods, Time period and Plot pivots. MQL source code included.
Files in the download: AllPivots_v2.mq4, Arrow1.mq4, CCI CustomCandles.mq4, ChandelierStops_v1.mq4, installation manual.txt, price action channel the gold line.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Count periods | 20 | Number of bars in the calculation |
| Time period | D1 | Period or timeframe used by the calculation |
| Plot pivots | true | |
| Plot middle | true | |
| Plot camarilla | false | |
| Note1 | Next 2 parms used on 1/5min charts | |
| Moving average1 | 12 | |
| Bb period1 | 8 | Number of bars in the calculation |
| Note2 | Next 2 parms used on >=15min charts | |
| Moving average2 | 21 | |
| Bb period2 | 9 | Number of bars in the calculation |
| Bb deviation | 0.75 | |
| Colour up arr | Green | Colour on the chart |
| Colour down arr | Red | Colour on the chart |
| Bar percent | 33.0 | |
| Arrow dist from bar | 6 | |
| Max bars to calculate | 500 | |
| Cci period | 14 | Period or timeframe used by the calculation |
| Cci price | 0 | |
| Overbought | 75 | |
| Oversold | -75 | |
| Length | 15 | |
| At rperiod | 14 | Period or timeframe used by the calculation |
| Kv | 4 | |
| Shift | 1 | Bar shift (0 = current bar) |
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 · Price Action · Channels & Envelopes · Buy/Sell Arrows · Moving Average · CCI · ATR · MT4 Indicator · MQL4 Source Code