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IndicatorExtremum
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28.61%, 833.21 USD Screenshot
USDJPY, M5
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Author: song_song
- Downloads:
- 1635
- Views:
- 1966
- Rating:
- votes: 14
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Description:
After the launch a channel with three lines will appear. It differs from the standard channel - it has the middle line.
The black line of the channel can be tuned, the red and the grey lines will be recalculated automatically. The channel width can be tuned using the opposite line of the channel, the middle line will be recalculated. If you need to create a new channel, you have to launch the indicator with other name (see inputs).
Image:
Translated from Russian by MetaQuotes Software Corp.
Original code: http://www.mql5.com/ru/code/879
Very good indicator which can be the basis for a very profitable EA! Google on Mustafa Belkhayate and/or MBFX to see his indicator with >90% score (though without source code). His rules can be found in English: http://www.mbfxsystem.com/mbfx-manual.pdf in French: http://www.belkhayate.biz/pdf/lematin.pdf in Dutch: http://chartstudio.whselfinvest.com/nederlands/center-gravity-timing-indicator-van-mr-belkhayate
And have a look at http://codebase.mql4.com/4332 for some variants/ideas.