A form of trading system using Price Channel principles has been implemented. Signals for opening a position are received at the second bar after the price touches the upper or the lower border of the channel. It must be traded for rebound, i.e., if the upper border is touched, the Sell operation is performed, if the lower one, the Buy is. The position is kept open until either stop beats out or position is closed by the corresponding signal. Trailing is used.
When tested, some currencies did not give at some timeframes any positive results at all (the only limiting factor used was % of drawdown), so, there is something to think of: either rules of entrance into and leaving of market must be improved, or methods of channel trading must not be used for these currencies at these timeframes at all.
Improved period converter support real-time refreshing, low CPU cost and other features.Period Converter
Use this script to make own nonstandard timeframes.