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Channel Searcher MT5

50 USD

Demo downloaded: 7

Published: 19 December 2025

Current version: 1.0

Channel Searcher MT5

Name: Channel Searcher MT5
Price: 50.00 USD
Author: Evgeniy Ilin

Indicators
Evgeniy Ilin
Evgeniy Ilin
Wizard at AlgoWealthX

Russia

41207
4.6 (62)
🤖 ALL MY PRODUCTS 👉 https://www.mql5.com/en/users/w.hudson/seller

14 products 26 articles 1 topic 318 comments
Version: 1.0
Activations: 20

Channel Searcher MT5 — Multi-Currency Price Channel Detection Indicator

An auxiliary tool for automatic detection and visualization of price channels based on fractal peaks and geometric analysis. The indicator is intended exclusively for manual trading and suits traders who follow a structural market approach. It identifies channels using multiple criteria: number of touches, slope, filling density, breakout depth, and relative position of fractals. Flexible customization is available for any price chart.

Links to help you unlock additional capabilities

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Who is this indicator for?

For traders who seek clear price structures and want to see sufficiently high-quality channels — without unnecessary noise or random lines.
For traders who want more points of interest without visually monitoring a large number of charts. A notification system is provided for you.
For those who value flexible configuration: you can adjust sensitivity, colors, sound alerts, drawing modes, and even limit the search to specific candle ranges.

Key Features and Advantages

Multi-Approach Analysis	The indicator searches for channels based on fractals, verifying geometry, touch density, slope, and breakout resilience — all in one tool.
Flexible Visualization	Full control over display: you can enable/disable points, channel lines, follow-up mode, colors, and line thickness.
Sound and Text Notifications	The indicator can alert you about new channels, their continuation, or breakouts — via sound or messages in the «Experts» tab of the MetaTrader terminal.
Resource Efficiency	Automatic cleanup of old objects and limiting the number of displayed channels "Last Channels In Memory" prevents chart overload.
Intuitive In-Chart Interface	Built-in buttons «REDETECT», «HIDE», «STOP», and panel corner selection.

Recommendations

Timeframes: Works on any chart period — from M1 to MN1.
Multiple Instruments: You can attach the indicator to as many charts as you like. Notifications will arrive from all of them simultaneously.
Setup: Default parameters are simplified so you can test the indicator in the Strategy Tester visualizer. After that, you can proceed with individual tuning or keep the defaults.
Performance: Channel detection and calculations are resource-intensive, so be cautious when selecting parameters and always test in the visualizer before live use.
Trading: The indicator is designed exclusively for manual analysis and must not be used in automated trading systems.

How it works — in simple terms

The indicator scans the last N candles looking for fractal peaks (local highs/lows), defined by the "Fractal Among "X" Candles" parameter. It then checks whether a support or resistance line can be drawn through two such peaks so that there are enough touches between them "Min./Max. Contacts About Border" and the distance between peaks falls within the specified range "Min./Max. Bars Between Construction Fractals". Next, the channel’s slope and “filling” are evaluated. If all conditions are met, the channel is displayed on the chart. In "Use Following Mode", the indicator continues tracking price: if the channel persists, it remains active, and when price exits its boundaries — a signal is triggered indicating the channel’s end.

Indicator Input Parameters

Category	Parameter	Description
Main
	Search In Last "N" Candles	Number of most recent candles used for channel detection. Increasing this speeds up analysis but reduces depth.
	Min. Bars Between Construction Fractals	Minimum distance (in bars) between fractals used to build the channel.
	Max. Bars Between Construction Fractals	Maximum distance between fractals. Channels built on overly distant peaks are ignored.
	Fractal Among "X" Candles	Fractal dimension: peak is detected at the center of an X-candle segment (only odd values: 3, 5, 7...).
	Min. Contacts About Border	Minimum number of price touches on the channel line required for confirmation.
	Max. Contacts About Border	Maximum allowed number of touches — filters out “clumped” channels.
	Rel. Dev. Of Fractals From The Line	Maximum relative deviation of a fractal from the channel line (as a fraction of the total price range).
	Rel. Rem. Of The First Fractal From A Distant Fractal	Minimum relative distance between the initial and distant fractal — excludes overly “compressed” channels.
	Rel. Filling Of A Starting Parallelogram	Minimum filling of the initial parallelogram by the channel — filters out “empty” structures.
	Relative Exit For Borders	Maximum allowed price exit beyond channel boundaries during active tracking (in follow-up mode).
	Min. Inclination Of The Channel	Minimum absolute channel slope (in points per bar). Filters out horizontal “noise”.
	Max. Inclination Of The Channel	Maximum allowed slope — excludes sharp, unstable channels.
Sounds	Play Warn. Sound On Detect	Play sound when a new channel is detected.
	Play Warn. Sound On Following	Sound alert when the channel continues successfully (price stays within boundaries).
	Play Warn. Sound On Following Break	Sound alert when the channel boundary is broken and the channel ends.
Messages	Message On Detect	When a new channel is detected, a message is logged to the "Experts" tab in your MetaTrader terminal.
	Message On Following	When the current channel remains active, a message is logged to the "Experts" tab in your MetaTrader terminal.
	Message On Following Break	When the current channel is broken, a message is logged to the "Experts" tab in your MetaTrader terminal.
Display Modes	Draw Points	Display fractal points used in channel construction.
	Draw Lower Line	Draw the lower channel boundary.
	Draw Upper Line	Draw the upper channel boundary.
	Use Following Mode	Enable follow-up mode: the indicator continues tracking the channel in real time.
	Old Line Cleaning	Automatically delete old channels, keeping only the most recent ones.
	Last Channels In Memory	Number of channels kept simultaneously on the chart.
Styling	Lower Line Color	Color of the lower channel line.
	Upper Line Color	Color of the upper channel line.
	Lower Help Line Color	Color of the extended lower line in "Following" mode.
	Upper Help Line Color	Color of the extended upper line in "Following" mode.
	Points Color	Color of fractal points.
	Lines Width	Thickness of all channel lines (from 1 to 50).
	Points Width	“Boldness” of fractal points.

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Neon Shadow — Ready-made trading solution for working on financial markets The product is designed for "set and forget" usage. The basic STATIC mode contains a built-in strategy that starts working immediately after installation on a chart without additional settings. Suitable for any deposits. Trading is conducted in Swing style. This trading style provides rare and wide-ranging, but much more effective trades when trading in the long term. The product is ready to work with default settings. T

FREE

Neon Trade — a cutting-edge trading solution that opens the door to financial freedom and the highest level of trading I aimed to create a unique trading solution capable of meeting the needs of any trader, regardless of their goals and objectives. The main idea was to combine machine learning with advanced trading techniques in such a way as to maximize the benefits of their combined use. The system is suitable both for growing small deposits over 1–2 months and for maximally long-term investi

949 USD

Spline Searcher MT5 — Multi-Currency Indicator for Early Detection of Price Splines and Points of Interest An auxiliary tool for automatic detection and visualization of nascent stages of complex price formations. The indicator is intended exclusively for manual trading and suits traders who experiment with early recognition of advanced market patterns or trends—of which simpler formations may be a part. It identifies up to six types of initial formations: parabolas with peaks at the far or nea

50 USD

FREE

Stocks Trade — A Sector-Specific Trading Robot Powered by Machine Learning We present to you the most effective portfolio-based approach combined with a strictly limited sector of trading instruments. The primary goal is to enable anyone to trade US stocks without prior preparation. We aim to trade as many of the most stable US equities simultaneously as possible to ensure maximum deposit safety while achieving substantial returns over a relatively short period. Links to help you learn more abo

89 USD

Currency Trade — A Sector-Specific Trading Robot Powered by Machine Learning We present to you the most effective portfolio-based approach combined with a strictly limited sector of trading instruments. The primary goal is to enable anyone to trade the core 28 major currency pairs simultaneously without prior preparation. We aim to trade as many of the most stable forex pairs as possible at the same time to ensure maximum deposit safety while achieving substantial returns over a relatively shor

99 USD

Crypto Trade — A Sector-Specific Trading Robot Powered by Machine Learning We present to you the most effective portfolio-based approach combined with a strictly limited sector of trading instruments. The primary goal is to enable anyone to trade cryptocurrencies without prior preparation. We aim to trade as many of the most stable cryptocurrencies simultaneously as possible to ensure maximum deposit safety while achieving substantial returns over a relatively short period. Links to help you ge

89 USD

99 USD

89 USD

949 USD

Channel Searcher MT5 — Multi-Currency Price Channel Detection Indicator An auxiliary tool for automatic detection and visualization of price channels based on fractal peaks and geometric analysis. The indicator is intended exclusively for manual trading and suits traders who follow a structural market approach. It identifies channels using multiple criteria: number of touches, slope, filling density, breakout depth, and relative position of fractals. Flexible customization is available for any

50 USD

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1036086 2025.12.20 12:11 #

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Reply from developer Evgeniy Ilin 2025.12.20 15:11 #

Thank you very much for your review! I decided to revive an old product and improve it a bit to make it more user-friendly. Looks like it worked out somehow.