Price Channel With I Trend Strategy
From the Old Kings archive: Price Channel With I Trend Strategy, an indicator for MetaTrader 4. Judging by its name, it is built around price channels and following the trend. In the code it works with Bollinger Bands. It draws arrows on the chart. It has 12 settings, for example Bands Mode 0 2 (default 0), Power Price 0 6 (default 0) and Price Type 0 3 (default 0). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 2 indicator files with source code (.mq4) you can open and edit in MetaEditor and a PDF guide. 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 With I Trend Strategy
Price Channel With I Trend Strategy is an indicator for MetaTrader 4 based on Bollinger Bands. It draws buy and sell arrows on the chart. It has 12 settings, such as Bands mode 0 2, Power price 0 6 and Price type 0 3. MQL source code included.
Files in the download: How to Install Indicators in MetaTrader 4 (A_Step_By_Step_Guide) .pdf, Price Channel with I-trend (Indicator MT4) .pdf, iTrend.mq4, PCIT.tpl, PriceChannel_Stop_v1.mq4, PCIT.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Bands mode 0 2 | 0 | =0-2 MODE_MAIN, MODE_LOW, MODE_HIGH |
| Power price 0 6 | 0 | =0-6 PRICE_CLOSE,PRICE_OPEN,PRICE_HIGH,PRICE_LOW,PRICE_MEDIAN,PRICE_TYPICAL,PRICE_WEIGHTED |
| Price type 0 3 | 0 | =0-3 PRICE_CLOSE,PRICE_OPEN,PRICE_HIGH,PRICE_LOW |
| Bands period | 20 | Period or timeframe used by the calculation |
| Bands deviation | 2 | |
| Power period | 13 | Period or timeframe used by the calculation |
| Count bars | 300 | |
| Channel period | 9 | Period or timeframe used by the calculation |
| Risk | 0.30 | Risk per trade (percent of balance) |
| Signal | 1 | |
| Line | 1 | |
| 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 · Trend · Buy/Sell Arrows · Bollinger Bands · MT4 Indicator · MQL4 Source Code