Price Channel Stop NK 5
Price Channel Stop NK 5 — a MetaTrader 4 indicator kept in the Old Kings collection. As the name suggests, the idea behind it is price channels. It draws arrows on the chart. It has 4 settings, for example Channel Period (default 5), Risk (default 0.10) and Signal (default true). 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 Price Channel Stop NK 5
Price Channel Stop NK 5 is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart. It has 4 settings, such as Channel period, Risk and Signal. MQL source code included.
Files in the download: PriceChannel_Stop_NK (1).mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Channel period | 5 | Period or timeframe used by the calculation |
| Risk | 0.10 | Risk per trade (percent of balance) |
| Signal | true | |
| Line | true |
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 · MT4 Indicator · MQL4 Source Code