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Argo Channel MT4

The indicator draws an equidistant trend channel and adds Fibonacci levels (extension) by the last extremums. The indicator has plenty of settings that can be changed according to your strategy and trading style. Appearance is also customizable. For those who trade within a channel, the indicator displays inclined or inclined + side channels and defines the side channel's width in the terminal window. You can customize the set of Fibo levels according to your preferences.

You also can simultaneously place several indicators displaying channels from different periods. They are re-calculated automatically.


Settings

  • TimeFrame - select the channel timeframe (Current - current timeframe).
  • AllBars - number of bars for calculating the channel.
  • BarsForFract - number of bars to determine an extremum (if 0, defined automatically for each TF).
  • Fibo - Fibo levels display method (disabled, levels, extension).
  • ExpansionLevels - set of levels for Fibo extension (entered using ";" with no spaces), the maximum value is 30.
  • FiboLevels - set of Fibo levels (entered using ";" with no spaces), the maximum value is 30.
  • lengthening_Fibo - extending Fibo levels to the right (FiboRay = false). The parameter is set in bars.
  • Channel - display the channel (default value is true).
  • ChannelBack - filling the channel (the default value is false).
  • CannelRay - the channel is displayed without the side one.
  • FiboRay - Fibo levels displayed as a ray.
  • PriceCannel - display the channel width.
  • ColorChannel - channel color.
  • ColorFib - color of the levels.
  • Price_color - the channel width color.
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