Simple Max-Min channel with a slope. In fact, this is the Donchian channel with a slope. If the xslope input parameter is equal to zero, then the indicator becomes a regular Donchian channel. Use the Moving Average of the Momentum.
Originally this indicator has been written in MQL4 and was first published in the Code Base on 23.12.2015.
Figure 1. The MaxminChannelWithSlope indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14725
The indicator helps to determine the beginning and end of trends on the basis of the slope of the "matches" lines and the color of their heads.AlphaTrendSpotter-pa_free
A semaphore signal indicator based on the price extremums for the period determined by the indicator input parameter.