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MTF Channel Alert

This is a non-redrawing signal indicator which provides recommendations on trade direction.

When the channel passes the internal channel, the indicator provides signals (red and blue icons) and advises possible upward or downward change of price direction.

When the price crosses the external channel, it gives signals (yellow icons), warning that the strong price movement may not allow to immediately reverse the trading direction.

You can also enable a sound alert.

In order not to plot to many lines on the chart, in the indicator provides an opportunity to draw the on-bar channel.

It is recommended to watch the signals on a h1 chart with the indicator time-frame set to H4.

You can also choose a successful combination of periods at your own discretion, for example for long-term trading: H4 chart and D1 indicator.

Indicator Parameters

  • TIME_PERIOD - channel timeframe, set to current by default.
  • USE_ALERT - use an Alert notification. *
  • USE_ICON - Use icons on the chart.
  • CODE_ICON - character code for the icon. **
  • SIZE_ICON - icon size.
  • USE_MAIL - send notifications by email. ***
  • COUNT_BARS - number of bars to draw the channel.

* Displays a dialog box with user data.

** A table of icons: https://docs.mql4.com/constants/objectconstants/wingdings

*** Sends an email at the address specified in the options window, tab "Email".

Jamesdelz 2018.03.10 19:25 

not approachable.

Berk Turker
Berk Turker 2017.02.11 21:23 

Good indicator

Version 1.20 2017.03.06
Added an additional channel for a preliminary signal prior to the main signal, or for an earlier entry.
Version 1.10 2017.02.24
Added features:
1) Receive signal when the price crosses the moving average to allow closing a part of position(s) or for making a different decision.
2) Sends push notifications about the signal to the mobile terminals, whose MetaQuotes IDs are specified in the "Notifications" tab.