Really useful channel indicator. It works just as good as human. At the same time, it is not prone to psychological problems.
It will also be useful to those who are unable to manually plot channels (or able to, but lazy).
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/7167
In classical literature, the relative strength index is described as the "price-following oscillator that ranges between 0 and 100, and signals the market sentiment to change the trend at high (close to 100%) or low (close to 0%)...Bollinger Bands %b
The most common and essential modification of Bollinger bands. Displays the standard deviation in a separate window, without disturbing the trading psychologically.
If you like plotting channels, I recommend plotting them yourself. This is particularly true for the slope channels. However, if you use channels merely as filters or simply like to set alerts on these levels, then the indicator will be useful.Digits_Comment
One of the new tendencies in trading is digital indicators.