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Indicators

MultiSignals_PCH - indicator for MetaTrader 5

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Views:
9684
Rating:
votes: 27
Published:
2012.05.14 11:19
Updated:
2016.11.22 07:32

Logo:

logoMultiSignals

This is the improved version of Price Channel indicator. Two additional price levels, trade signals and Stop Loss/Take Profit levels were added.

The signals and Stop Loss/Take Profit can be disabled in input parameters. The indicator with price levels, signals and disabled Stop Loss/Take Profit is shown at the figure below:

MultiSignals_PCH


All the prices are named, the name of the level is shown in the tooltips.

The price levels are:

  • H_PCH - calculated on High price of the bars;
  • MH_PCH - calculated as as a middle line between the maximum and center of the price channel;
  • M_PCH - calculated as a middle (center) line between the maximum and minimum values of the price channel;
  • ML_PCH - calculated as the middle line between the minumum and center of the price channel;
  • L_PCH - calculated on Low prices of the bars.

All the signals are based on price crossover with these levels:

  1. Upward crossover of ML_PCH (buy signal) / Downward crossover of MH_PCH (sell signal);
  2. Upward crossover of M_PCH (buy signal) / Downward crossover of M_PCH (sell signal);
  3. Upward crossover of MH_PCH (buy signal) / Downward crossover of ML_PCH (sell signal);
  4. Upward crossover of H_PCH (buy signal) / Downward crossover of L_PCH (sell signal);

Indicator parameters:

ParameterValue
Period
15
ML/MH_PCH signals
true
M_PCH signals
true
MH/ML_PCH signals
true
H/L_PCH signals
true
Take Profit MLMH
100
Take Profit M
100
Take Profit MHML
100
Take Profit HL
100
Stop Profit MLMH
50
Stop Profit M
50
Stop Profit MHML
50
Stop Profit HL
50

The indicator with one condition and enabled Stop Loss (bars)/Take Profit (squares) levels is shown at the figure below:

MultiSignals_PCH


This indicator is used in the TRADING WAY expert system, described in the "Limitless Opportunities with MetaTrader 5 and MQL5" article (in Russian). The TRADING WAY Expert Advisor and its demo version is avalible in Market.


Additional info:

The indicator logo (logoMultiSignals_PCH_64x64.ico) can be found in the attached archive logomultisignals_pch_64x64.zip.  This file must be placed to \MetaTrader 5 data folder\MQL5\Images.


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/887

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