Forex Reversal Two Candlestick Trading Strategy
Forex Reversal Two Candlestick Trading Strategy is an indicator for MetaTrader 4 from the Old Kings collection. Its name points to reversals against the current move. Its source code uses RSI and Parabolic SAR. It draws arrows on the chart, can send alerts and marks candlestick patterns. It has 39 settings, for example Time Frame (default 0), Step (default 0.02) and Maximum (default 0.2). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 3 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 Reversal Two Candlestick Trading Strategy
Forex Reversal Two Candlestick Trading Strategy is an indicator for MetaTrader 4 based on RSI and Parabolic SAR. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and marks candlestick patterns. It has 39 settings, such as Time frame, Step and Maximum. MQL source code included.
It also can show data from another timeframe (MTF).
Files in the download: 15min Candelstick Reversal II.tpl, installation manual.txt, Parabolic_MTF.mq4, Pattern_Recognition_Master_v7.mq4, RSI_MTF.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time frame | 0 | Period or timeframe used by the calculation |
| Step | 0.02 | Distance between orders |
| Maximum | 0.2 | |
| Show alert | true | Turn this alert on or off |
| Display shoot star 2 | true | |
| Show shoot star alert 2 | true | Turn this alert on or off |
| Display shoot star 3 | true | |
| Show shoot star alert 3 | true | Turn this alert on or off |
| Display shoot star 4 | true | |
| Show shoot star alert 4 | true | Turn this alert on or off |
| Color shoot star | Red | Colour on the chart |
| Display hammer 2 | true | |
| Show hammer alert 2 | true | Turn this alert on or off |
| Display hammer 3 | true | |
| Show hammer alert 3 | true | Turn this alert on or off |
| Display hammer 4 | true | |
| Show hammer alert 4 | true | Turn this alert on or off |
| Color hammer | Blue | Colour on the chart |
| Display doji | true | |
| Show doji alert | true | Turn this alert on or off |
| Color doji | Red | Colour on the chart |
| Display stars | true | |
| Show stars alert | true | Turn this alert on or off |
| Star body length | 5 | |
| Color star | Blue | Colour on the chart |
| Display dark cloud cover | true | |
| Show dark cc alert | true | Turn this alert on or off |
| Color dark cc | Red | Colour on the chart |
| Display piercing line | true | |
| Show piercing line alert | true | Turn this alert on or off |
| Color piercing line | Blue | Colour on the chart |
| Display bearish engulfing | true | |
| Show bearish engulfing alert | true | Turn this alert on or off |
| Color bearish engulfing | Red | Colour on the chart |
| Display bullish engulfing | true | |
| Show bullish engulfing alert | true | Turn this alert on or off |
| Color bullish engulfing | Blue | Colour on the chart |
| Rs iperiod | 14 | Period or timeframe used by the calculation |
| Applied price | 0 |
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: Buy/Sell Arrows · Alerts · Candlestick Patterns · Multi-Timeframe (MTF) · RSI · Parabolic SAR · MT4 Indicator · MQL4 Source Code