Light Forex System 2
Light Forex System 2 is an indicator for MetaTrader 4 from the Old Kings collection. Its source code uses moving averages and ATR. It draws arrows on the chart. It has 8 settings, for example Depth (default 43), Deviation (default 12) and Backstep (default 5). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 3 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 Light Forex System 2
Light Forex System 2 is an indicator for MetaTrader 4 based on Moving Average and ATR. It draws buy and sell arrows on the chart. It has 8 settings, such as Depth, Deviation and Backstep. MQL source code included.
Files in the download: Light Forex System\light forex system.tpl, Light Forex System\Indicators\101_dollaromaniacom1.mq4, Light Forex System\Indicators\101_dollaromaniacom2.mq4, Light Forex System\Indicators\bbsqueeze.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Depth | 43 | |
| Deviation | 12 | |
| Backstep | 5 | Distance between orders |
| Bol prd | 20 | |
| Bol dev | 2.0 | |
| Kelt prd | 20 | |
| Kelt factor | 1.5 | |
| Mom prd | 12 |
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 · Moving Average · ATR · MT4 Indicator · MQL4 Source Code