The indicator uses the channel generated on the basis of the common moving average. The chart displays only the part of the channel, in the direction of which the breakout has occurred and which is used as the current trend indicator. The moments for performing deals are shown in colored circles with the dots of the appropriate color.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com 18.06.2012 (in Russian).
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/967
The indicator calculates the difference between the period maximum and minimum. The period is specified in the indicator parameters.OpenSellPosition
The script is developed for selling with fixed Stop Loss and Take Profit values in points from the current price.