Forex Turtle Trading Channel Indicator
From the Old Kings archive: Forex Turtle Trading Channel Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is price channels. It draws arrows on the chart and can send alerts. It has 5 settings, for example Trade Period (default 20), Stop Period (default 10) and Strict (default false). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 2 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 Turtle Trading Channel Indicator
Forex Turtle Trading Channel Indicator is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 5 settings, such as Trade period, Stop period and Strict. MQL source code included.
Files in the download: installation manual.txt, TheTurtleTradingChannel.mq4, TheTurtleTradingChannelRaw.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Trade period | 20 | Donchian channel period for trading signals |
| Stop period | 10 | Donchian channel period for exit signals |
| Strict | false | Apply strict entry parameters like the Turtles did |
| Display alerts | false | You know... |
| Calculate on bar close | 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: Channels & Envelopes · Buy/Sell Arrows · Alerts · MT4 Indicator · MQL4 Source Code