Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

votes: 12
2016.04.14 09:52
2016.11.22 07:32
PChannel.mq5 (5.86 KB)view

Real author:


The Price Channel indicator calculates the highest high and lowest low for the price values of bars.

Lines show the highs and lows, on which they are drawn. When the market moves above the upper line, this means the market is becoming stronger. Accordingly, when the price falls below the lower line, this means the market is weak. Steady movement above or below the previous levels of the channel may indicate s major breakout.

This indicator was first implemented in MQL4 and published in Code Base at on 29.12.2005.

Fig.1. The PChannel indicator

Fig.1. The PChannel indicator

Translated from Russian by MetaQuotes Software Corp.
Original code:

Exp_Go Exp_Go

A trading system based on the signals of the Go indicator.

Exp_FiboCandles Exp_FiboCandles

A trading system based on the signals of the FiboCandles indicator.

PChannel3Cloud PChannel3Cloud

The Price Channel indicator with the background filling inside the channel.

PChannel3_Cloud_Digit_Grid PChannel3_Cloud_Digit_Grid

The Price Channel indicator with the color filling inside the channel, drawn as a cloud, with the display of the last values as price labels and the possibility to round the channel levels up to a required number of digits, and a price grid with these rounded values.