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Standard Deviation Channel MT5

- Alert, Notification and Email when price reaches a level.

- Second channel possible.

- The Channel updates with every new bar, so moves along with time.

- Does not repaint.

- Generate a signal in your EA.

Description

Standard Deviation Channel is built on base of Linear Regression Trend representing a usual trendline built between two points on the price chart using the method of least squares.
As a result, this line proves to be the exact median line of the changing price.
It can be considered as an equilibrium price line, and any deflection up or down indicates the superactivity of buyers or sellers respectively.

Standard Deviation Channel consists of two parallel lines, equidistant up and down from the Linear Regression Trend.
The distance between frame of the channel and regression line equals to the value of the standard deviation of the close price from the regression line.
All price changes take place within Standard Deviation Channel, where the lower frame works as support line, and the upper one does as resistance line.
Prices usually exceed the channel frames for a short time.
If they keep outside of the channel frames for a longer time than usually, it forecasts the possibility of trend turn.
(reference www.metatrader5.com)

Settings
  • Bars - how many bars back from current (or previous, depending on next setting) bar to start channel
  • Include Current Bar - if false, it only redraws on a new bar
  • Channel 1 Deviations
  • Channel 1 Color
  • Channel 1 Line Style
  • Channel 1 Line Width
  • Draw Channel 2
  • Channel 2 Deviations
  • Channel 2 Color
  • Channel 2 Line Style
  • Channel 2 Line Width
  • Center Line Color
  • Center Line Style
  • Center Line Line Width
  • ------------ Alerts
  • Show Alert
  • Send Notification
  • Send Email
  • On Upper Line(s)
  • On Center Line
  • On Lower Line(s)
  • Disable on Start Up - to enable/disable this first alert if current bar covers a line (level) each time you deploy the indicator or change a setting

Remark

Sending Notifications and Emails has to be configured in the Trading Platform as well and Events has to be enabled for the Alert.
Go to Tools/Options/Notifications (or Email or Events) tab.
If you need help with that then click Help on those tabs or hit F1.


It is possible to generate a signal in your EA.

You can read the 5 indicator buffers (0 to 4):
  • center            = Line Index 0
  • top_channel_1     = Line Index 1
  • bottom_channel_1  = Line Index 2
  • top_channel_2     = Line Index 3
  • bottom_channel_2  = Line Index 4


Many green pips!

Walter











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Renko is a well-known Japanese charting technique that removes time from the chart. Instead of drawing bars in constant intervals (time) as a normal chart would, a Renko chart does so only when price moves beyond a predefined amount. In a Renko chart, a bar is created when price exceeds the previous bar’s high or low by a predefined amount or what we call the Box Size. The result is a chart with equally sized bars running up or down in 45 degree angles. Such a chart offers the following advant
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A powerful oscillator that provide Buy and Sell signals by calculating the investor liquidity. The more liquidity the more buy possibilities. The less liquidity the more sell possibilities. Very very good and accurate for Scalping . HOW IT WORKS: The oscillator will put buy and sell arrow on the chart. Top value is 95 to 100 -> Investors are ready to buy and you should follow. Bottom value is 5 to 0 -> Investors are ready to sell and you should follow.
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PZ Swing Trading MT5
PZ TRADING SLU
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Swing Trading is the first indicator designed to detect swings in the direction of the trend and possible reversal swings. It uses the baseline swing trading approach, widely described in trading literature. The indicator studies several price and time vectors to track the aggregate trend direction and detects situations in which the market is oversold or overbought and ready to correct. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ] Profit for market swings with
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50% Discount from Thanksgiving to the end of the Holiday Season! Now Only $64.50 Normal price is $129.00 Will Calculate the Lot Size for a given Percent Risk and places the order with SL and TP with a click of a button. Locks in your profits on auto-pilot with a Set Break Even function and/or several Trailing Stop Loss methods. Drag and position your Stop Loss and Take Profit before placing the actual order. Close trades with a click of a button. Works with Market Orders, Instant Orders, Pendin
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50% Discount from Thanksgiving to the end of the Holiday Season! Now Only $149.50 Normal price is $299.00 The WaltSoft Fibonacci Patterns SCOUT searches for Fibonacci Patterns, also called Harmonic Patterns, and displays the results in a clear table. The WSFP SCOUT can search for 16 different Patterns plus 1 Custom Pattern and can process up to 28 Instruments and up to 9 Time Frames at once! It refreshes every second and alerts you when it finds a new pattern! Clicking on a Pair-Time Frame co
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Round   Numbers  &  Background The WaltSoft RNB Indicator adds scale and perspective to your charts. If you want Alerts and Notifications when price reaches a Big Round Number then you need the  Plus version  of this indicator. Description On a naked chart you have no clue of how much price has moved. But put the WaltSoft RNB on your chart and it draws an alternating color background (grid) with a scale you can choose. Not only that, but it also draws horizontal lines, with or without p
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Round   Numbers  &  Background The WaltSoft RNB Indicator adds scale and perspective to your charts. If you want Alerts and Notifications when price reaches a Big Round Number then you need the Plus version of this indicator. Description On a naked chart you have no clue of how much price has moved. But put the WaltSoft RNB on your chart and it draws an alternating color background (grid) with a scale you can choose. Not only that, but it also draws horizontal lines, with or without pri
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The WaltSoft Log Spread Indicator will log the Average Spread on the chosen Interval and create a .csv file in the MQL4/Files folder or when testing in the tester/files folder. Meant to be used on a life chart, but can be used in the Strategy Tester. However, an Indicator in the strategy Tester will always run in visible mode, so the test could take a longer time. If you want quicker results in the Strategy Tester then you can download the free EA version here: https://www.mql5.com/en/market
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The WaltSoft Log Spread EA will log the Average Spread on the chosen Interval and create a .csv file in the MQL4/Files folder or when testing in the tester/files folder. Typical use Meant to be used in the Strategy Tester to check the spread on the history data. If you are testing an EA with the Tick Data Suite on downloaded history data with variable spread, then you have no clue if the spread from 10 years ago is the same spread you have today on the same pair, and so you may want to adjust
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Have you ever wondered which currency is moving a pair? For instance, if you see EURUSD go up, then is it because the EUR is getting stronger or because the USD is getting weaker? Well, this nifty little indicator will tell you in a blink of an eye! The indicator shows the relative strength of eight major currencies by comparing each currency with all the other ones, and presents the result in an easy to interpret graphical way. Alerts, Notifications and Emails can be set on a range of scena
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Looking for more detailed price action? Is trading M1 charts just not enough? The WaltSoft Tick indicator draws every incoming tick! In addition to that: It draws your open positions, complete with Order Number and Lot Size. It draws your TP and SL. It calculates and displays your current profit or loss in points, money and percent. It displays the current spread. It displays the average spread. This handy indicator will enhance your scalping strategies! Settings (most settings need no explana
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Round Numbers & Background The WaltSoft RNB Plus Indicator adds scale and perspective to your charts. In addition, this plus+ version can Alert you with a pop-up Alert, a Notification on your mobile or an Email when price reaches a Big Round Number . Description On a naked chart you have no clue of how much price has moved. But put the WaltSoft RNB on your chart and it draws an alternating color background (grid) with a scale you can choose. Not only that, but it also draws horizontal li
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Have you ever wondered which currency is moving a pair? For instance, if you see EURUSD go up, then is it because the EUR is getting stronger or because the USD is getting weaker? Well, this nifty little indicator will tell you in a blink of an eye! The indicator shows the relative strength of eight major currencies by comparing each currency with all the other ones, and presents the result in an easy to interpret graphical way. Alerts, Notifications and Emails can be set on a range of scena
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50% Discount from Thanksgiving to the end of the Holiday Season! Now Only $149.50 Normal price is $299.00 The WaltSoft Fibonacci Patterns SCOUT searches for Fibonacci Patterns, also called Harmonic Patterns, and displays the results in a clear table. The WSFP SCOUT can search for 16 different Patterns plus 1 Custom Pattern and can process up to 28 Instruments and up to 9 Time Frames at once! It refreshes every second and alerts you when it finds a new pattern! Clicking on a Pair-Time Frame co
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Landfar 2021.01.05 12:46 
 

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WaltSoft
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Reply from developer Walter Abrahams 2021.08.10 10:57
Hi Landfar, I only see your review now. I don't understand because I never asked for a review and problems with purchases should be directed to the mql5 helpdesk and not in a review. Anyway, here is a guide on how to purchase a product: https://www.mql5.com/en/articles/498 Hope this helps.
Reply to review
Version 1.5 2021.10.10
- For the Alerts, added settings "On Upper Line(s)" and "On Lower Line(s)" so that separate alerts and notifications can be set for upper and lower lines of the channel.
Version 1.3 2020.12.18
Added settings to set color, style and line width of channels
Version 1.2 2020.03.11
Bug fix: it drew 1 bar too little