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Channel Notifier MT4

Channel Notifier is a universal indicator, which can plot different types of channels with the ability to send notifications about the channel breakouts. A breakout can be registered based on different rules, such as the price directly reaching a new level, a bar closing beyond the channel, the whole bar being outside the channel, etc. The notifications can be configured as alerts in the MetaTrader terminal, or as push notifications to mobile devices.


Input parameters

  • Indicator - type of the indicator (Bollinger Bands, Envelopes, Price Channel, Moving Average Channel). New types of indicators can be added on demand

Main settings

  • Period - averaging period, applied to all types of channels
  • Shift - applicable to Bollinger Bands, Envelopes and MA Channel
  • MA Method - applicable to Envelopes and MA Channel
  • Apply to - applicable to Bollinger Bands and Envelopes
  • Deviations - applicable to Bollinger Bands and Envelopes

Channel widening

  • Offset up/down value - offset of the upper/lower boundaries by the specified number of points/percents
  • Offset up/down unit - unit for measuring the offset of the channel boundaries:
    • Points
      • upper boundary = High(period) + Points
      • lower boundary = Low(period) - Points
    • Percents
      • upper boundary = High + (High-Low)*Percents
      • lower boundary = Low - (High-Low)*Percents

Notifications

  • Channel break mode - breakout detection mode
    • Bar close - bar closed outside the channel boundaries
    • Bar open and close - Open and Close of the bar are beyond the channel boundaries
    • Whole bar - all bar prices are outside the channel boundaries
    • Price touch - price reached the channel boundaries
  • Break notification - how to send notifications
    • None - do not send notifications
    • Alert - alert in the MetaTrader 4 terminal
    • Print - output text in the terminal window
    • Push notification - push notification to mobile device
  • Notification frequency - frequency of sending notifications
    • Each event- every time a breakout is detected, no more than once per bar
    • Retest- repeated notifications are sent when the price goes back into the channel (bar is below the upper boundary of the channel or above the lower boundary)
    • Once - notifications are sent once per each breakout direction (waits for a breakout of the lower boundary after a breakout of the upper boundary, etc.)

Supported channel types and their input parameters

Bollinger Bands - the standard Bollinger Bands indicator

Parameters:

  • Period - period of averaging for calculation of the indicator
  • Deviations - the number of standard deviations from the main line
  • Shift - shift of the indicator in relation to the price chart
  • Apply to - applied price (Open, Close, Median, etc.)

Envelopes - the standard Envelopes indicator

Parameters:

  • Period - period of averaging for calculation of the indicator
  • MA Method - averaging method (SMA, MMA, etc.)
  • Shift - shift of the indicator in relation to the price chart
  • Apply to - applied price (Open, Close, Median, etc.)
  • Deviations - deviation from the main line as a percentage

Price Channel - price channel

Parameters:

  • Period - period for calculating the High/Low price

Moving Average Channel - combination of 2 moving averages - by Highs and Lows of the bars

Parameters:

  • Period - period of averaging for calculation of the indicator
  • Shift - shift of the indicator in relation to the price chart
  • MA Method - averaging method (SMA, MMA, etc.)
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