Momentum Arrow 2
From the Old Kings archive: Momentum Arrow 2, an indicator for MetaTrader 4. Its name points to price momentum and buy / sell signals on the chart. In the code it works with RSI, CCI and ADX. It draws arrows on the chart, can send alerts and can read another timeframe. It has 33 settings, for example symbolhint (default Symbol (leave blank for ), symbol and tfhint (default timeframe (in Minutes, 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 Momentum Arrow 2
Momentum Arrow 2 is an indicator for MetaTrader 4 based on RSI, CCI and ADX. 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 33 settings, such as Symbolhint, Symbol and Tfhint. MQL source code included.
Files in the download: Momentum Arrow.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Symbolhint | Symbol (leave blank for current chart): | |
| Symbol | ||
| Tfhint | timeframe (in Minutes, 0 for current): | |
| Time frame | 0 | Period or timeframe used by the calculation |
| Cci period | 3 | Period or timeframe used by the calculation |
| Atr period | 6 | Period or timeframe used by the calculation |
| Momentum period | 3 | Period or timeframe used by the calculation |
| Rsi period | 3 | Period or timeframe used by the calculation |
| Adx period | 3 | Period or timeframe used by the calculation |
| Indihint1 | periods for control: | |
| Rsi control period | 6 | Period or timeframe used by the calculation |
| Adx control period | 6 | Period or timeframe used by the calculation |
| Rsi trigger | 25 | |
| Adx trigger | 10 | |
| Subtracthint | default: -2, -1 | |
| Subtract from signal val | -2.0 | |
| Subtract from indi val | -1.0 | |
| Hl0 | -=-------------------------------------- | |
| Show buy signals | true | |
| Show sell signals | true | |
| Wingdingshint | default: 233, 234 | |
| Wingdings up arrow | 225 | |
| Wingdings down arrow | 226 | |
| Hl1 | -=-------------------------------------- | |
| Alerthint | optional settings: | Turn this alert on or off |
| Alerts | true | Turn this alert on or off |
| Play sounds | false | Turn this alert on or off |
| Alerthint1 | Want change sounds for signals? | Turn this alert on or off |
| Alerthint2 | (must be in MT4\"sounds | Turn this alert on or off |
| Alerthint3 | and have extension .wav) | Turn this alert on or off |
| Long signal sound file | alert.wav | Turn this alert on or off |
| Short signal sound file | alert.wav | Turn this alert on or off |
| Signal mail | False |
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: Momentum · Buy/Sell Arrows · Alerts · Multi-Timeframe (MTF) · RSI · CCI · ADX · MT4 Indicator · MQL4 Source Code