Forex Volty Channel Stop Indicator
From the Old Kings archive: Forex Volty Channel Stop Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is price channels. In the code it works with moving averages and ATR. It draws arrows on the chart and can send alerts. It has 13 settings, for example MA Price (default 0), MA Length (default 1) and MA Mode (default 0). 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 Volty Channel Stop Indicator
Forex Volty Channel Stop Indicator is an indicator for MetaTrader 4 based on Moving Average and ATR. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 13 settings, such as Ma price, Ma length and Ma mode. MQL source code included.
Files in the download: installation manual.txt, VoltyChannel_Stop_v2_1M.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Ma price | 0 | Applied Price: 0-C,1-O,2-H,3-L,4-Median,5-Typical,6-Weighted |
| Ma length | 1 | MA's Period |
| Ma mode | 0 | MA's Method:0-SMA,1-EMA,2-SMMA,3-LWMA |
| Atr length | 10 | ATR's Period |
| Kv | 4 | Volatility's Factor or Multiplier |
| Money risk | 1 | Offset Factor |
| Use price hi lo break | true | |
| Use ma hi lo envelope | false | |
| Alert mode | 0 | 0-alert off,1-on |
| Visual mode | 0 | 0-lines,1-dots |
| Applied price | 0-C,1-O,2-H,3-L,4-Median(H+L)/2,5-Typica | |
| M amethod mode | 0-SMA,1-EMA,2-SMMA,3-LWMA | |
| Visual mode | 0-lines,1-dots |
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 · Moving Average · ATR · MT4 Indicator · MQL4 Source Code