Target Bands 2 4
Target Bands 2 4 — a MetaTrader 4 indicator kept in the Old Kings collection. Judging by its name, it is built around price targets drawn as lines. Its source code uses moving averages. It draws arrows on the chart, can send alerts and can read another timeframe. It has 11 settings, for example Time Frame (default current time frame), Half Length (default 55) and Price (default PRICE_WEIGHTED). 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 Target Bands 2 4
Target Bands 2 4 is an indicator for MetaTrader 4 based on Moving Average. 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 11 settings, such as Time frame, Half length and Price. MQL source code included.
Files in the download: TARGET BANDS (1).mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time frame | current time frame | Period or timeframe used by the calculation |
| Half length | 55 | |
| Price | PRICE_WEIGHTED | |
| Bands deviations | 2.5 | |
| Interpolate | true | |
| Alerts on | false | Turn this alert on or off |
| Alerts on current | false | Turn this alert on or off |
| Alerts on high low | false | Turn this alert on or off |
| Alerts message | false | Turn this alert on or off |
| Alerts sound | false | Turn this alert on or off |
| Alerts email | false | Turn this alert on or off |
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 · Alerts · Multi-Timeframe (MTF) · Moving Average · MT4 Indicator · MQL4 Source Code