Free i-skb-f indicator Script for MetaTrader 4

MetaTrader 4 script

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i-skb-f indicator

Info

The i-skb-f indicator is a Script for MetaTrader 4 that this indicator displays channels similar to barishpoltsa’s sliding channels. it is based on three extremes, either two lower and one upper, or two upper and one lower.

Usage

This tool is typically used for enhancing chart analysis and decision making.

Platform

This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.

How to Install and Use i-skb-f indicator

1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.

2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.

3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.

4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."

Frequently Asked Questions

Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.

Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.

Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.

What this tool does

this indicator displays channels similar to barishpoltsa’s sliding channels.

Typical Use Case

This Script excels in automated trading and technical analysis on MetaTrader 4.

Compatible Platform & Setup

This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.

Description & Settings

Related: notches indicator - another powerful script for MetaTrader 4 traders.

this indicator displays channels similar to barishpoltsa’s sliding channels.
it is based on three extremes, either two lower and one upper, or two upper and one lower. the difference is that fractals are used as extremes.

Also recommended: high n indicator - similar script with strong performance on MetaTrader 4.

the following parameters can be adjusted in the indicator:
- fixedtf=60 - zig-zag parameter.
- offset=-3 - channel border offset in points. a positive value increases the channel width, a negative value decreases it.
- showray=true - display rays, which are the channel border continuations to the right, forward, into the future.

You may also like: order information indicator - excellent alternative for script users on MetaTrader 4.

Source Code

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 SkyBlue
#property indicator_color2 Salmon
extern int  FixedTF = 60;
extern int  OffSet  = -3;
extern bool ShowRay = True;
double dBuf0[];

.......

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⚠ Limitations & Risk Warning

This tool is provided for educational and testing purposes only.
Past performance does not guarantee future results.
Trading involves substantial risk of loss. Use on a demo account first.
Results may vary depending on market conditions, broker, and settings.
We recommend thorough backtesting and forward testing before using with real funds.