Forex Trend Wave Bands Scalping Strategy
Forex Trend Wave Bands Scalping Strategy is an indicator for MetaTrader 4 from the Old Kings collection. As the name suggests, the idea behind it is wave counting in the Elliott style, short scalping trades and following the trend. Its source code uses moving averages. It draws arrows on the chart and can send alerts. It has 4 settings, for example Wave Period (default 10), Avg Period (default 21) and Sound Alert (default FALSE). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 1 indicator file 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 Trend Wave Bands Scalping Strategy
Forex Trend Wave Bands Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 4 settings, such as Wave period, Avg period and Sound alert. MQL source code included.
Files in the download: installation manual.txt, trend wave and bollinger bands scalping.tpl, TrendWave.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Wave period | 10 | Period or timeframe used by the calculation |
| Avg period | 21 | Period or timeframe used by the calculation |
| Sound alert | FALSE | Turn this alert on or off |
| Email 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: Scalping · Trend · Buy/Sell Arrows · Alerts · Moving Average · MT4 Indicator · MQL4 Source Code