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You liked the script? Try it in the MetaTrader 5 terminal
Position in channel - indicator for MetaTrader 5
- Views:
- 13609
- Rating:
- Published:
- 2010.09.24 13:23
- Updated:
- 2016.11.22 07:32
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The indicator shows the position of the current price in a channel.
First it determines the channel boundaries. The upper boundary is defined as the maximal value of High[], the lower boundary is determined from the minimal values of Low[]. If the current value of Close[0] is located in the middle of the channel, its value is equal to 0. The price position is determined relative to the upper (from 0 to 10) and lower (from 0 to -10) channel boundaries.
Input parameters:
- Period - number of bars, used in calculation of the channel.
- X Coordinate - the horizontal shift relative to the lower right corner.
- Y Coordinate - the vertical shift relative to the lower right corner.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/194
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