The substantial difference from the known indicators of probable channels is that it plots an estimated channel, and not the actual based on history. It is good for displaying the breakouts and rebounds. To improve the display, it incorporates a small smoothing by averaging the close price used in calculations. The indicator period depends on the used timeframe, but it is recommended not to lower it.
Currently, the possible operation modes are being checked.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/7077
The Comment2 library expands the capabilities of the standard Comment function for comment output.WATR trend indicator, simple but clear
A simple trend indicator that clearly shows the direction of the current trend. It can be used in the breakout trading systems.