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Published:

2014.06.02 11:06

Updated:

2016.11.22 07:32

pchannel_system.mq5 (19.81 KB) view

Download as ZIP, How to download code from MetaEditor

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The indicator implements a breakthrough system using a channel drawn on extrema for a period.

When price exits the gray channel, the candlestick color changes to the color corresponding to trend direction. Blue for the growth of a financial asset, pink color - fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.

Figure 1. The PChannel_System indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/2328

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PChannel_System - indicator for MetaTrader 5