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price_channel_central.mq5 (11.58 KB) view

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Real author:

Yuriy Tokman (YTG)

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.

Originally this indicator has been written in MQL4 and was first published in the Code Base on 10.09.2015.

Figure 1. The Price_Channel_Central indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/14811

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Price_Channel_Central - indicator for MetaTrader 5