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Views:: 13236
Rating:: (32)
Published:: 2010.09.24 13:23
Updated:: 2016.11.22 07:32

vindicat_005.mq5 (11.9 KB) view

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The indicator shows the position of the current price in a channel.

First it determines the channel boundaries. The upper boundary is defined as the maximal value of High[], the lower boundary is determined from the minimal values of Low[]. If the current value of Close[0] is located in the middle of the channel, its value is equal to 0. The price position is determined relative to the upper (from 0 to 10) and lower (from 0 to -10) channel boundaries.

Input parameters:

Period - number of bars, used in calculation of the channel.
X Coordinate - the horizontal shift relative to the lower right corner.
Y Coordinate - the vertical shift relative to the lower right corner.

Position in channel

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/194

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