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Breakdown Flat MT5

Breakdown Flat is an indicator of flat and its breakout. It is based on comparison of two different periods of the "Average True Range" (ATR) indicator and the maximum swing for 'n' periods. It draws a channel of the flat and signals about its breakouts. Quite often, a significant breakout takes place after a price consolidation, which makes it possible to use the indicator in a custom trading strategy both separately and together with other indicators (methods) for entering the market. The indicator does not redraw, it can be used in experts. Settings should be entered as for 4-digit quotes, 5 and 3 digits are automatically translated into 4 digits.


Parameters

  • FastATR - period of the fast ATR.
  • SlowATR - period of the slow ATR.
  • MultRangeSlowATR - the slow ATR multiplier for filtering the price swing in the channel. The smaller the multiplier, the narrower the channel.
  • CountFlatBars - the number of analyzed bars.
  • Indent - distance in points from the High and Low price in the channel.
  • BarsLimit - limit of the calculated bars (0 - disabled). To optimize the performance of the indicator.
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Version 1.1 2018.08.27
If there is a signal, it is possible to choose notifications: Alert, Push, Mail.