True Trand Line Indicator
From the Old Kings archive: True Trand Line Indicator, an indicator for MetaTrader 4. In the code it works with ATR and fractals. It can send alerts. It has 25 settings, for example Break Alert After Close (default TRUE), Break Alert Before Close (default TRUE) and Touch Alert (default TRUE). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 4 indicator files 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 True Trand Line Indicator
True Trand Line Indicator is an indicator for MetaTrader 4 based on ATR and Fractals. It can alert you with a pop-up, sound, email or push message. It has 25 settings, such as Break alert after close, Break alert before close and Touch alert. MQL source code included.
Files in the download: FXProSystems - best Trading Systems and Indicators.url, TrueTL Alert V1.01.mq4, TrueTL V1.01.mq4, ![Script] Calculate Trendline.mq4, ![Script] Hide Trendline.mq4, TrueTrandLine.tpl.
Settings
| Setting | Default | What it does |
|---|---|---|
| Break alert after close | TRUE | Turn this alert on or off |
| Break alert before close | TRUE | Turn this alert on or off |
| Touch alert | TRUE | Turn this alert on or off |
| Touch distance | 5 | Distance between orders |
| All trendline alert | TRUE | Turn this alert on or off |
| High tl name | High | |
| Low tl name | Low | |
| Email alert | FALSE | Turn this alert on or off |
| Popup alert | FALSE | Turn this alert on or off |
| Sound alert | FALSE | Turn this alert on or off |
| Sound file | Tick.wav | Turn this alert on or off |
| Pictogram alert | TRUE | Turn this alert on or off |
| Pictogram symbol | 108 | |
| Pictogram corner | 1 | |
| Auto refresh | TRUE | |
| Normal tl period | 500 | Period or timeframe used by the calculation |
| Three touch | TRUE | |
| M1 fast analysis | TRUE | |
| M5 fast analysis | TRUE | |
| Mark highest and lowest tl | TRUE | |
| Expiration day alert | 5 | Turn this alert on or off |
| Normal tl color | Gainsboro | Colour on the chart |
| Long tl color | Goldenrod | Colour on the chart |
| Three touch tl widht | 2 | |
| Three touch tl color | White | Colour on the chart |
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: Alerts · ATR · Fractals · MT4 Indicator · MQL4 Source Code