Price Channel Stop V6
Price Channel Stop V6 — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to price channels. This copy is version 6. It draws arrows on the chart and can read another timeframe. It has 7 settings, for example Channel Period (default 9), Risk (default 0.30) and Signal (default 1). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. 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 · v6 · Free
About Price Channel Stop V6
Price Channel Stop V6 is an indicator for MetaTrader 4. It draws buy and sell arrows on the chart and can show data from another timeframe (MTF). It has 7 settings, such as Channel period, Risk and Signal. MQL source code included.
Files in the download: PriceChannel_Stop_v6.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Channel period | 9 | Price Channel Period |
| Risk | 0.30 | channel narrowing factor (0...0,5) |
| Signal | 1 | Display signals mode: 1-Signals & Stops; 0-only Stops; 2-only Signals; |
| Line | 1 | Display line mode: 0-no,1-yes |
| Color bar | 1 | Display color bars mode: 0-no,1-yes |
| Time frame | 0 | TimeFrame in min |
| Nbars | 1000 |
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 · Multi-Timeframe (MTF) · MT4 Indicator · MQL4 Source Code