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Pivot Channels MT5

The indicator searches for the points of the beginning of correction or a turn. It gives good market entry points. It is simple to use and features rich configuration options for demanding traders. It will help you to find short-term and long-term trends.

Turn or divergence channels are drawn based on the search for divergence using the RSI indicator. The RSI values are calculated with different periods depending on channel properties. The indicator utilizes the idea of Elliott Wave patterns. It searched for divergence channels, the peaks of which are Elliott Waves 3 and 5. Also, these channels are often formed on the latest correction wave.

The channel is drawn based on two peaks with a divergence, and is drawn so that all the bars between these peaks were inside the channel.


Definitions

The channel can be in three consecutive statuses:not open, open and closed.

  • Not open - the state of the channel, when the channel border has not been broken.
  • Open - the channel border has been broken. Channel opening is the main indicator signal to enter the market.
  • Channel breakthrough is when a new bar is opened outside the channel.
  • Closed - the channel has been closed when conditions for its closure have been met. Channel closure may be a signal to close the order that has been opened based on the channel values.

The channel can be trend or simple.

  • A trend channel is the channel with a verified history of formation. Often trend channels are formed on the tops of impulse waves 3 and 5, and the opening of the channel indicates the beginning of correction to the impulse or the beginning of new trend formation.
  • A simple channel is a channel that has not been verified like a trend channel. Sometimes a simple channel can be formed on tops of correction waves, and opening of such a channel is a powerful signal for the development of a new impulse wave.

Based on the sizes, a channel can be parent or child.

  • A child channel is several times smaller than the parent channel (its length and/or height). A child channel defines a short term trend. A child channel is drawn as a dashed line.
  • The parent channel defines a longer term trend. A parent channel can go without child channels.

Any new open channel, which is larger than or comparable to the previous channel, closes the previous one.

  • Channel length is the number of bars between the channel peaks.
  • Wave in the direction of channel development (WCh) is the price movement from the minimum/maximum price inside the channel to its right peak. WCh and the channel are unidirectional.
  • Channel breakthrough wave (WBr) is the price movement from its right peak to a breakthrough. It is directed against the direction of the channel.


Position Closing Conditions

A channel can be closed in the following cases if the corresponding option in the indicator parameters is set:

  • If a larger or similar channel has opened.
  • On volatility breakthrough. If 'Closure type channel by type amplitude' is set to CLOSE_CH_V_TYPE, the channel will be closed when the price moves forth and back at the distance larger than the price channel or the height of the fifth wave (depending on the parameter) during the time equal to the channel length.
  • If the price has fallen/risen higher than the lowest/highest price of the channel.
  • If the channel lifetime is over.

All options except the reverse channel breakthrough can be enabled or disabled in the parameter group 'Conditions to close channels'.


Properties of Channels and Breakthrough Waves

  • Volatility of channel characterizes price colatility inside the channel (channel borders are its peaks). Changes from 0 to 1.
  • Spike of channel distribution of peaks (high/low) of bars relative to the lower or upper channel border. It is equal to the ratio of the number of peaks above the line separating the middle of the channel to the number of peaks below the line.
  • Spike of breakthrough is calculated similar to spike channel, but the interval of bars starts with the lower/upper price of the channel till the breakthrough for an upward/downward directed channel.
  • Force of breakthrough compares the speed of breakthrough and wave speed.
  • Relative wave length of breakthrough . If it is greater than 1, then the breakthrough wave is longer.
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The combination of trend and breakdown levels in one system. An advanced indicator algorithm filters market noise, determines the trend, entry points, as well as possible exit levels. Indicator signals are recorded in a statistical module, which allows you to select the most suitable tools, showing the effectiveness of the signal history.  The indicator calculates Take Profit and Stop Loss marks. Important information:  To use the full potential of the indicator, we strongly recommend that you
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TPA True Price Action MT5 Indicator
TPA True Price Action MT5 Indicator
InvestSoft
TPA True Price Action indicator reveals the true price action of the market makers through 100% non-repainting signals strictly at the close of a candle! TPA shows entries and re-entries, every time the bulls are definitely stronger than the bears and vice versa. Not to confuse with red/green candles. The shift of power gets confirmed at the earliest stage and is ONE exit strategy of several. The first part of the TPA manual "The Basics" is now available (free to get). Everybody who wants to
168 USD
All Harmonics 26
All Harmonics 26
Alexey Isavnin
Harmonic patterns are characteristic series of price movements with respect to Fibonacci levels, which statistically precede price reversals. This indicator searches for harmonic patterns. It is capable of recognising 26 classical and non-classical harmonic patterns : Classical Gartley Butterfly Alternate Butterfly Bat Alternate Bat Crab Deep Crab Three Drives Non-classical Shark Alternate Shark Cypher 5-0 Anti Gartley Anti Butterfly Anti Alternate Butterfly Anti Bat Anti Alternate Bat Anti Crab
90 USD
VR System MT 5
VR System MT 5
Vladimir Pastushak
VR System is not just an indicator, it is a well-balanced trading system that includes combined simple Moving Average and Donchian channel indicators. The system is based on classic trading rules. The VR System trading system takes into account the rules for entering the market, rules for holding a position in the market, and rules for exiting a position. Simple trading rules, minimal risks, and clear instructions make VR System an attractive trading strategy for traders in financial markets. Ad
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Sideways Market Statistical Analyzer MT5
Sideways Market Statistical Analyzer MT5
Young Ho Seo
Notable period of Low volatility and non-trending movements in the financial market is considered as Sideways Market. Sooner or later, the low volatility will increase and the price will pick up a trend after Sideways Market. In terms of trading point of view, Sideways Market can serve as the very good entry timing for traders. Sideways Market is also quite often the representation of accumulation of large orders from big investors. Therefore, knowing the presence of Sideways Market can help you
100 USD
Modified TTM Squeeze Indicator MT5
Modified TTM Squeeze Indicator MT5
Libertas LLC
"The Squeeze indicator attempts to identify periods of consolidation in a market. In general the market is either in a period of quiet consolidation or vertical price discovery. By identifying these calm periods, we have a better opportunity of getting into trades with the potential for larger moves. Once a market enters into a "squeeze," we watch the overall market momentum to help forecast the market direction and await a release of market energy." The Modified TTM Squeeze Indicator is a modi
149 USD
Citra Bot MT5
Citra Bot MT5
Philip Pankaj
Inspired from, Time is the most important factor in determining market movements and by studying past price records you will be able to prove to yourself history does repeat and by knowing the past you can tell the future. There is a definite relation between price and time. - William Delbert Gann CITRA BOT is a Price Action/Price Pattern detection Indicator which uses historical data to validate a current pattern or profile to predict the probability of hitting future resistance or support lev
89 USD
VolumeProfile MT5
VolumeProfile MT5
Robert Hess
Description: The Volume Profile displays detailed informations of historical trading activities at certain price levels. Locate the areas with the best prices in the market and get an advantage over other market participants. Features: Customizable Volume Profile Shows the "fair" Value Area with 70% of all Volume Shows critical low volume zones Shows VPOC, VAL and VAH Points Works on all timeframes Automatic calculation your defined timeset in all timeframes Drag & Drop for live calculation
165 USD
Blahtech Supply Demand MT5
Blahtech Supply Demand MT5
Blahtech Limited
Supply Demand uses previous price action to identify potential imbalances between buyers and sellers. The key is to identify the better odds zones, not just the untouched ones. Blahtech Supply Demand indicator delivers functionality previously unavailable on any trading platform. This 4-in-1 indicator not only highlights the higher probability zones using a multi-criteria strength engine, but also combines it with multi-timeframe trend analysis, previously confirmed swings and engulfing detector
124 USD
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Pivot Channels
Pivot Channels
Dmitry Zmitrovich
The indicator searches for the points of the beginning of correction or a turn. It gives good market entry points. It is simple to use and features rich configuration options for demanding traders. It will help you to find short-term and long-term trends. Turn or divergence channels are drawn based on the search for divergence using the RSI indicator. The RSI values are calculated with different periods depending on channel properties. The indicator utilizes the idea of Elliott Wave patterns. It
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TD lines
TD lines
Dmitry Zmitrovich
The indicator is based on Thomas DeMark's concept of trend lines with some changes concerning the search for TD points. The indicator searches and displays TD lines found on older timeframes. In other words, you do not need to switch to an older timeframe to see what TD lines it has. The older the timeframe relative to the current one, the thicker the line.  Similar to DeMark, the indicator has three breakout types. The filter can be configured by breakout types.   TD line can be in one of the t
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Pivot Channels PRO
Pivot Channels PRO
Dmitry Zmitrovich
I'm glad to present you my new   "Pivot Channels PRO"   indicator. It builds on my previous indicators and over six years of experience using them. This indicator includes all the best strategies that I have researched. When developing and optimizing, I used ML algorithms. The indicator is very easy to use. Now the indicator has 3 basic strategies and the ability to customize your own strategy. I am constantly looking for better strategies. Telegram channel:     https://t.me/d_p
99 USD
TD lines MT5
TD lines MT5
Dmitry Zmitrovich
The indicator is based on Thomas DeMark's concept of trend lines with some changes concerning the search for TD points. The indicator searches and displays TD lines found on older timeframes. In other words, you do not need to switch to an older timeframe to see what TD lines it has. The older the timeframe relative to the current one, the thicker the line. Similar to DeMark, the indicator has three breakout types. The filter can be configured by breakout types. TD line can be in one of the thre
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Pivot Channels PRO MT5
Pivot Channels PRO MT5
Dmitry Zmitrovich
I'm glad to present you my new "Pivot Channels Pro" indicator. It builds on my previous indicators and over six years of experience using them. This indicator includes all the best strategies that I have researched. When developing and optimizing, I used ML algorithms. The indicator is very easy to use. Now the indicator has 3 basic strategies and the ability to customize your own strategy. I am constantly looking for better strategies. Telegram channel:   https://t.me/d_product
99 USD
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Version 3.4 2020.05.27
Fixed parameters names
Version 3.3 2020.04.16
Recompiled and fixed some mistakes
Version 3.2 2017.03.10
Improved search for channels.
Removed parameters that have little effect on the results.
Version 3.0 2015.03.27
Significantly modified and improved search of the trend channels.
Added a new channel type. Correction channel usually completes the correction and its opening is a signal for the continuation of the trend and the development of a new wave.
Version 2.3 2014.12.12
- Fixed a bug with displaying channel lines.
- Default value of "Draw Width" is now false.
- Improved channel search on higher timeframes.
Version 2.2 2014.12.02
- Fixed bugs with the lack of history data.
- Added channel drawing options.
If "Draw Width" is set to true, then the channels found on the higher timeframe will be drawn with a thicker line.
"WidthChannelLines" sets the width of the line in the current timeframe.
Version 2.0 2014.10.31
Improved search of pivot channels on higher timeframes. Now in the current timeframe, channels that are formed on higher timeframes are displayed better. It is important to have enough bars on the current timeframe specified in the parameter "Count of bars for analysis".
Version 1.50 2014.07.10
Fixed a bug in push notifications.
Version 1.45 2014.07.01
1. Fixed publication of channel properties when adding it.
2. Fixed calculation of RSI.
3. Added new option "Skip channels with crossing its upper bound". Values False allows adding channels with high/low prices crossing their borders instead of close prices.
Version 1.40 2014.06.19
Fixed trend channels search function.
Fixed display of the icon of a closed channel.
Fixed error in the calculation of "Volatility of channel"

Added input parameters:
1. Minimal distance between current bar and first peak of channel
Allows you to draw channels formed at the previous bar if 0 is set.
2. Delete channel if the filter condition is not fulfilled
3. Print information about added channels.
Allows you to publish information on some channel properties immediately after it has been added.
Version 1.30 2014.05.23
1. Added ability to set the "Push Notifications". Added new option "Enable Push Notifications".