What is MIDAS Channel v3?
MIDAS Channel v3 draws a central VWAP reference with upper and lower channel lines on an MT4 price chart. Separate colors distinguish the VWAP, resistance, support, and carrier elements.
The channel provides a visual range around the displayed VWAP calculation. The package includes an .mq4 file and the lines are chart references for comparing price location.
How to use MIDAS Channel v3
Review price location relative to the central VWAP and the two outer lines. Channel spacing and line color help separate the displayed reference roles on the active chart.
VWAPLineWidth, VWAPLineStyle, VWAPLineColor, ResistanceLineWidth, ResistanceLineStyle, ResistanceLineColor, SupportLineWidth, SupportLineStyle, SupportLineColor, CarrierLineWidth, CarrierLineStyle, and CarrierLineColor are available in the Inputs dialog.
Where it helps
The central reference and outer channel lines share one overlay.
Color inputs distinguish VWAP, resistance, support, and carrier elements.
Line width and style inputs keep the chart layout adjustable.
MT4 Indicator Parameters
The table below lists the available MT4 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| VWAPLineWidth | Sets the central VWAP line width. Default: 2. |
| VWAPLineStyle | Sets the central VWAP line style. Default: Solid. |
| VWAPLineColor | Sets the central VWAP line color. Default: Aqua. |
| ResistanceLineWidth | Sets the upper channel line width. Default: 1. |
| ResistanceLineStyle | Sets the upper channel line style. Default: Solid. |
| ResistanceLineColor | Sets the upper channel line color. Default: Crimson. |
| SupportLineWidth | Sets the lower channel line width. Default: 1. |
| SupportLineStyle | Sets the lower channel line style. Default: Solid. |
| SupportLineColor | Sets the lower channel line color. Default: DodgerBlue. |
| CarrierLineWidth | Sets the carrier line width. Default: 1. |
| CarrierLineStyle | Sets the carrier line style. Default: Dot. |
| CarrierLineColor | Sets the carrier line color. Default: DeepSkyBlue. |
The screenshot above shows the default input parameters in the MT4 settings window.
How to Install .ex4 Indicator in MetaTrader 4
- Download the ZIP file and extract it.
- In MT4, select File → Open Data Folder.
- Open MQL4 → Indicators and copy the EX4 or MQ4 file into it.
- If the package includes library files, copy them to MQL4 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT4, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
