Fractal Channel Breakout 5
Fractal Channel Breakout 5 — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to Bill Williams fractals (swing highs / lows), price channels and breakouts from a range. Its source code uses moving averages and ATR. It draws arrows on the chart, can send alerts and can read another timeframe. It has 31 settings, for example Time Frame (default tf_cu), Time Frame Custom (default 0) and Fractal Period (default 5). 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 Fractal Channel Breakout 5
Fractal Channel Breakout 5 is an indicator for MetaTrader 4 based on Moving Average and ATR. It draws buy and sell arrows on the chart, can alert you with a pop-up, sound, email or push message and can show data from another timeframe (MTF). It has 31 settings, such as Time frame, Time frame custom and Fractal period. MQL source code included.
Files in the download: Fractal - channel breakout.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time frame | tf_cu | Time frame |
| Time frame custom | 0 | Custom time frame to use (if custom time frame used) |
| Fractal period | 5 | Fractal period 5 = std mt4 fractal |
| Price high | PRICE_HIGH | Upper fractal price |
| Price low | PRICE_LOW | Lower fractal price |
| Display type | en_lid | Display type |
| Bars width | 1 | Bars width (when candles are included in display) |
| Wick width | 2 | Wicks width (when candles are included in display) |
| Lines width | 2 | Lines width (when lines are included in display) |
| Up channel color | clrTeal | Upper channel color |
| Dn channel color | clrOrange | Lower channel color |
| Up bars color | clrTeal | Up candle color |
| Dn bars color | clrOrange | Down candle color |
| Up wick color | clrTeal | Up wick color |
| Dn wick color | clrOrange | Down wick color |
| Up arrow size | 2 | Up arrow size |
| Dn arrow size | 2 | Down arrow size |
| Up arrow code | 159 | Up arrow code |
| Dn arrow code | 159 | Down arrow code |
| Up arrow gap | 0.5 | Up arrow gap |
| Dn arrow gap | 0.5 | Down arrow gap |
| Up arrow color | clrDodgerBlue | Up Arrow color |
| Dn arrow color | clrMagenta | Down Arrow color |
| Arrow on first | true | Arrow on first bars? |
| Alerts on | true | Turn alerts on? |
| Alerts on current | false | Alerts on still opened bar? |
| Alerts message | true | Alerts should show popup message? |
| Alerts sound | false | Alerts should play a sound? |
| Alerts email | false | Alerts should send email? |
| Alerts notify | false | Alerts should send notification? |
| Interpolate | true | Interpolate in multi timeframe mode? |
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 · Fractals · Channels & Envelopes · Buy/Sell Arrows · Alerts · Multi-Timeframe (MTF) · Moving Average · ATR · MT4 Indicator · MQL4 Source Code