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:
All the prices are named, the name of the level is shown in the tooltips.
The price levels are:
All the signals are based on price crossover with these levels:
|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:
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.
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
The indicator plots the chart of the specified symbol in a separate window.Multi-Williams Percent Range trend indicator
Multi-Williams Percent Range trend indicator.