Forex Simple MACD Trend Following Strategy
From the Old Kings archive: Forex Simple MACD Trend Following Strategy, an indicator for MetaTrader 4. Judging by its name, it is built around MACD (moving average convergence / divergence) and following the trend. In the code it works with moving averages, Bollinger Bands and a trend filter. It draws arrows on the chart and can send alerts. It has 40 settings, for example Length (default 20), Deviation (default 2) and Money Risk (default 1.00). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 16 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 Simple MACD Trend Following Strategy
Forex Simple MACD Trend Following Strategy is an indicator for MetaTrader 4 based on Moving Average, Bollinger Bands and Trend. 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 Length, Deviation and Money risk. MQL source code included.
Files in the download: ArenDI ATR.ex4, BBANDS~1.ex4, BBANDS~1.mq4, H1Scalper DashBoard_v2.5.ex4, H1Scalper OscD1_v2.ex4, smHull Mavg.ex4, smHull Mavg.mq4, smMagnified Market Price.ex4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Length | 20 | Bollinger Bands Period |
| Deviation | 2 | Deviation was 2 |
| Money risk | 1.00 | Offset Factor |
| Signal | 1 | Display signals mode: 1-Signals & Stops; 0-only Stops; 2-only Signals; |
| Line | 1 | Display line mode: 0-no,1-yes |
| Nbars | 1000 | |
| Sound on | false | Turn this alert on or off |
| Hull period | 27 | Period or timeframe used by the calculation |
| Hull period divisor | 1.5 | Number of bars in the calculation |
| Hull method | 3 | MODE_LWMA |
| Hull price | 0 | PRICE_CLOSE |
| Note1 | Change font colors automatically? True = | |
| Open close colors | True | Colour on the chart |
| Show all digits | false | |
| Note2 | Default Font Color | |
| Font color | Blue | Colour on the chart |
| Font color up | Lime | Colour on the chart |
| Font color dn | Red | Colour on the chart |
| Note3 | Font Size | |
| Font size | 30 | |
| Note4 | Font Type | |
| Font type | Arial Bold | "Comic Sans MS"; |
| Note5 | Display the price in what corner? | |
| What corner | 2 | |
| X axis | 1 | |
| Y axis | 4 | 50; |
| Depth | 12,12,12,0,12,12,12,12,12 | |
| Deviation | 5,5,5,0,5,5,5,5,5 | |
| Backstep | 3,3,3,0,3,3,3,3,3 | Distance between orders |
| Max bar | 5000,1000,350,350,350,350,350,350,350,35 | |
| Gross period | 1,5,15,30,60,240,1440,10080,43200 | Period or timeframe used by the calculation |
| Zz visible | 1,1,1,1,1,1,1,1,1 | |
| Zz color | Tan,RoyalBlue,Brown,Blue,Red,GreenYellow | Colour on the chart |
| Color | Indigo,Olive,Teal | Colour on the chart |
| Fibofan | FALSE | |
| Fan visible | 1,1,1,1,1,1,1,1,1 | |
| Fan style | 2,2,2,2,2,2,2,2,2 | |
| Fan width | 0,0,0,0,0,0,0,0,0 | |
| Fibo free fan | 0.382,0.618,0.786 | |
| Fibo channel | TRUE |
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: MACD · Trend · Buy/Sell Arrows · Alerts · Moving Average · Bollinger Bands · MT4 Indicator · MQL4 Source Code