Level Stop Reverse System
From the Old Kings archive: Level Stop Reverse System, an indicator for MetaTrader 4. In the code it works with ATR. It draws arrows on the chart and can send alerts. It has 23 settings, for example Use ATRMode (default true), Non ATRStop Pips (default 40) and ATRPeriod (default 9). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 5 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 Level Stop Reverse System
Level Stop Reverse System is an indicator for MetaTrader 4 based on 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 23 settings, such as Use atr mode, Non atr stop pips and Atr period. MQL source code included.
Files in the download: ForexWOT.Com-LevelStopReverseSystem\ForexWOT.Com [Trading Rules].url, ForexWOT.Com-LevelStopReverseSystem\Indicators\!X-XXXXXX.ex4, ForexWOT.Com-LevelStopReverseSystem\Indicators\Level Stop Reverse.ex4, ForexWOT.Com-LevelStopReverseSystem\Indicators\Level Stop Reverse.mq4, ForexWOT.Com-LevelStopReverseSystem\Indicators\Magnified Market Price.ex4, ForexWOT.Com-LevelStopReverseSystem\Indicators\Magnified Market Price.mq4, ForexWOT.Com-LevelStopReverseSystem\Template\ForexWOT.Com-LevelStopReverseSystem.
Settings
| Setting | Default | What it does |
|---|---|---|
| Use atr mode | true | |
| Non atr stop pips | 40 | |
| Atr period | 9 | Period or timeframe used by the calculation |
| Atr multiplier | 3.0 | How much the lot size grows after a loss |
| Atr smoothing | 0 | |
| Up arrow color | DodgerBlue | Colour on the chart |
| Dn arrow color | OrangeRed | Colour on the chart |
| Arrow distance | 0 | Distance between orders |
| Alert sound | true | Turn this alert on or off |
| Alert mail | false | Turn this alert on or off |
| Show comment | true | Comment written on the orders |
| Note1 | Change font colors automatically? True = | |
| Bid ask colors | True | Colour on the chart |
| Font color1 | DodgerBlue | Colour on the chart |
| Font color2 | Red | Colour on the chart |
| Note2 | Default Font Color | |
| Font color | Black | Colour on the chart |
| Note3 | Font Size | |
| Font size | 20 | |
| Note4 | Font Type | |
| Font type | Arial Bold | |
| Note5 | Display the price in what corner? | |
| What corner | 3 |
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: Buy/Sell Arrows · Alerts · ATR · MT4 Indicator · MQL4 Source Code