Stop Reversal Bluestops
Stop Reversal Bluestops is an indicator for MetaTrader 4 from the Old Kings collection. As the name suggests, the idea behind it is reversals against the current move. Its source code uses ATR. It draws arrows on the chart. It has 4 settings, for example n Pips (default 0.004), Stop Pips (default 40) and Use ATRStop (default true). 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 · v1.0 · Free
About Stop Reversal Bluestops
Stop Reversal Bluestops is an indicator for MetaTrader 4 based on ATR. It draws buy and sell arrows on the chart. It has 4 settings, such as N pips, Stop pips and Use atr stop. MQL source code included.
Files in the download: Stop_reversal_bluestops.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| N pips | 0.004 | for calculation of arrows |
| Stop pips | 40 | for calculation of blue stop line ignored if UseATRStop is true |
| Use atr stop | true | |
| At rmultiplier | 0.45 | How much the lot size grows after a loss |
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 · ATR · MT4 Indicator · MQL4 Source Code