The indicator plots a channel using the linear regression model: y=b+a*x.
When calculation of regression coefficients (a and b) it uses only completed bars. The number of bars should be greater than 2 (and less than total bars in history-1), it is specified in InChPeriod input parameter. The indicator values for the last (uncompleted) bar is calculated using the values of calculated regression coefficients.
It's assumed, that:
The recalculation of the regression coefficient is performed when total bars in the history has changed, for example, for the case of a new bar.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/249
The ZigzagColor_Channel plots a channel by connecting the ZigZag peaks and ZigZag bottoms.Grr-al
The Expert Advisor is profitable only if the "Open prices" only or "1 minute OHLC" modes used in Strategy Tester.
Trade signals based on price crossover with moving average indicator (CSignalMA from MQL5 Standard Library) is considered. The code of the Expert Advisor based on this strategy can be generated automatically using the MQL5 Wizard.MQL5 Wizard - Trade Signals Based on Three Moving Averages
Trade signals based on three moving averages is considered. The code of the Expert Advisor based on this strategy can be generated automatically using the MQL5 Wizard.