Market Condition Evaluation based on standard indicators in Metatrader 5 - page 236

Sergey Golubev
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Market condition indicators/tools

Sergey Golubev, 2022.05.11 14:57

Constant Range Channel - indicator for MetaTrader 5

Metatrader 5 -

Constant Range Channel - indicator for MetaTrader 5

Metatrader 4 -

Constant Range Channel - indicator for MetaTrader 5

This is a very simple indicator. It plots a channel with a constant range of twice the step-size parameter value. The range is broken when the low quote price breaks the upper level, or when the high quote price breaks the lower level of the channel’s range. The code uses conditional compilation and will compile on both MQL4 and MQL5.