Indicators: MPC
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MPC:
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