Channel Scalper MT5
The Channel Scalper MT5 indicator is designed for scalping, it works on all currency pairs and timeframes.
The indicator does not redraw.
When the channel is broken up or down, the indicator draws an arrow in the opposite direction, and a pop-up Alert appears, showing the time, the currency pair and the recommended trading direction. The Period and Sensitivity input parameters allow to select the optimum sensitivity of the indicator.
When trading based on arrows, it is advisable to wait for the confirming signal, namely, the price returning inside the channel.
- Period - number of bars for calculating the channel's parameters. Recommended values are 5 to 25.
- Sensitivity - sensitivity of the indicator. Recommended values are 0 to 20.
- Alert - pop-up alert about the price breaking through the channel.