Forex Two MA Channel Breakout Indicator
From the Old Kings archive: Forex Two MA Channel Breakout Indicator, an indicator for MetaTrader 4. Its name points to moving averages, price channels and breakouts from a range. In the code it works with moving averages. It draws arrows on the chart. It has 4 settings, for example Faster EMA (default 89), Slower EMA (default 144) and EXIT Period (default 89). Try it on a demo chart first and note how its lines or arrows react to new bars. 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 Two MA Channel Breakout Indicator
Forex Two MA Channel Breakout Indicator is an indicator for MetaTrader 4 based on Moving Average. It draws buy and sell arrows on the chart. It has 4 settings, such as Faster ema, Slower ema and Exit period. MQL source code included.
Files in the download: installation manual.txt, MA_channel_break_v1_0.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Faster ema | 89 | Faster EMA Channel |
| Slower ema | 144 | Slower EMA Channel |
| Exit period | 89 | Exit Period Channel |
| Stop loss | 89 | Stop Loss Channel |
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: Breakout · Moving Average · Channels & Envelopes · Buy/Sell Arrows · MT4 Indicator · MQL4 Source Code