MQL5 - Language of trade strategies built-in the MetaTrader 5 client terminal

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Automated-Trading 2012.02.03 13:26


In trading systems, based on the channel breakout, the long position is opened when the price shows new X days maximum, and short position is opened when the price forms new X day minimum.

It allows to forecast the trend direction. But there is a problem - very often trend detected with a lag and the most of the profit is lost. The HighestLowestRange (HLR) indicator helps to resolve the market entry problem before the channel breakout.

The MPC indicator plots a simple channel using extermums of the specified period. It can be used for additional visual control of trading system (channel breakout), based on HighestLowestRange (HLR) indicator

Author: Nikolay Kositsin

MPC indicator

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