Forex RSX Contrarian Scalping Strategy
This Old Kings indicator for MetaTrader 4 is called Forex RSX Contrarian Scalping Strategy. As the name suggests, the idea behind it is short scalping trades. It has 40 settings, for example Indicator On (default true), Use For Forex (default true) and Use Day Formula (default true). 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 RSX Contrarian Scalping Strategy
Forex RSX Contrarian Scalping Strategy is an indicator for MetaTrader 4. It has 40 settings, such as Indicator on, Use for forex and Use day formula. MQL source code included.
Files in the download: 3c_JRSX_H.ex4, Damiani_volatmeter v3.2.ex4, installation manual.txt, PivotsD_v5 (Black).mq4, rsx contrarian scalping system.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Indicator on | true | |
| Use for forex | true | |
| Use day formula | true | |
| Exit period choices | M1, M5, M15, M30, H1, H4, D1 | Number of bars in the calculation |
| Exit if period greater than | H1 | Number of bars in the calculation |
| _ | ||
| Part 1 | Day Candle & Session Box Settings: | |
| Show day candle | true | |
| Shift day candle right | 49 | Bar shift (0 = current bar) |
| Show today box | true | |
| Today box color | C'30,33,36' | Colour on the chart |
| Show yesterday box | true | |
| Yesterday box color | C'20,18,41' | Colour on the chart |
| __ | ||
| Part 2 | Pivot Line Start/Stop Settings: | |
| Note1 | Start with fullscreen lines, enter '1' | |
| Note2 | Start lines at Day Separator, enter '2' | |
| Note3 | Start lines at current candle, enter '3' | |
| Start lines | 2 | |
| Stop lines at current candle | false | |
| ___ | ||
| Part 3 | Pivot Line Color & Selection Settings: | |
| Central pivot color | Blue | Colour on the chart |
| Cp line style 01234 | 0 | |
| Cp solid line thickness | 1 | |
| Resistance pivots color | FireBrick | Colour on the chart |
| R line style 01234 | 0 | |
| R solid line thickness | 1 | |
| Support pivots color | Green | Colour on the chart |
| S line style 01234 | 0 | |
| S solid line thickness | 1 | |
| Show mid pivots | true | |
| Mid pivots color | C'108,108,0' | Colour on the chart |
| M p line style 01234 | 2 | |
| M p solid line thickness | 1 | |
| ____ | ||
| Part 4 | Pivot Label Settings: | |
| Pivot labels color | DarkGray | Colour on the chart |
| Pivot labels font style | Arial | |
| Pivot labels fontsize | 9 |
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 · MT4 Indicator · MQL4 Source Code