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Published:

2015.12.10 14:36

Updated:

2016.11.22 07:32

price_channel_central.mq4 (7.91 KB) view

Download as ZIP, How to download code from MetaEditor

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The channel indicator.

The upper line of the channel — the maximum value of a bar in a specified amount of bars.
The lower line of the channel — the minimum value of a bar in a specified amount of bars.
The middle line of the channel — the average value of the upper and the lower lines.

The indicator also displays the current channel levels as price labels and the type of the signal for making trading decisions.

The indicator settings:

Bars_Count — the amount of bars on which the maximum and the minimum bar values lookup is performed.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/13801

Road Map

The indicator displays the series of waves, breakthrough points and targets for Take Profit.

Derivative

The indicator performs the calculation of the derivative of the price.

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Price Channel Central - indicator for MetaTrader 4