• Overview
  • Reviews (1)
  • Comments (2)

Seven equally spaced channels

This is an interactive and easy-to-set indicator which allows to form seven equally spaced channels which have your settings simultaneously. All seven channels are enabled by default. But you can easily enable one or another channel using control buttons located in the upper case of the indicator's control panel.

You can change a period of the indicator calculation by clicking one of buttons indicating number of the channel in the lower case of the control panel. Two other buttons (one of them is red) allow you to move the control panel to the desired place and hide it if necessary. Press and hold down the left mouse button and move the panel to the desired place. You can hide the bigger part of the control panel by pressing on the other button. The second pressing will make your panel visible.

Every channel has following settings:

  • Enable (disable) channel No._
  • Calculation period of channel No._ in hours
  • Color of channel No._
  • Lines width of channel No._
  • Enable (disable) a ray for parallel channel No._

When the ray is disabled (for all channels by default) you can use the mode which places price labels against parallel channels' lines. Enable (disable) tagging. SensitivitySignalAlerts - signal level in % of the channel width. The signal level is a dashed line drawn parallel to the main one with the specified proportions.

Changing colors of the control panel is not complicated, as well as all other instrument control elements.

Settings of the immediate control panel are valid only when you stay on the same time frame. Save you preferable parameters in settings of the instrument's inputs. Free version of the indicator: https://www.mql5.com/en/market/product/8723.

2016.12.29 01:00 

Absolutely fantastic tool for channel trading. Only criticism is you cannot switch off the upper and lower trend lines which tend to obscure the channels somewhat but other than that this is the best channel indicator that I have found... Many thanks..