In trading systems, based on the channel breakout, the long position is opened when the price shows new X days maximum, and short position is opened when the price forms new X day minimum. It allows to forecast the trend direction. But there is a problem - very often trend detected with a lag and the most of the profit is lost.
The HighestLowestRange (HLR) indicator helps to resolve the market entry problem before the channel breakout. The MPC indicator plots a simple channel using extermums of the specified period. It can be used for additional visual control of trading system (channel breakout), based on HighestLowestRange (HLR) indicator
This indicator was first implemented in MQL4 and published in Code Base at mql4.com 25.01.2007.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/790
The script calculates Stop Out price (at this price position will be closed by broker) of the opened position and the price, at which Free Margin became negative (LockOut price).X2MA_BBx3_Cloud
Bollinger Bands displayed as colored background.
The HighestLowestRange (HLR) determines the relative price position in range of the several X bars ago. If price located at range bottom (new low), the indicator is equal to 0, if price position at the top of the range (new high), the indicator is equal to 1 (or 100%).FisherTransform_HTF_Signal
FisherTransform_HTF_Signal shows a trend direction as a graphical object with colored trend indication and gives alerts or audio signals in case of a trend change.