The indicator draws a "box" where a price is (was) located for a preset period of time.
If the channel is broken through, the indicator generates a breakthrough signal, and signal is set both for the channel breakthrough and a bounce from its boundaries.
It shall be set according to the bar closing or the price touch of the boundary.
Signals of the channel boundaries breakthrough are set for sending messages to e-mail and mobile devices or for sound alerts.
The channel drawing is fully configurable. Color, font, line and signs... As an option, you can display only necessary information.
- time channel - time period for the "box" formation. For example: 00:05 - 6:59;
- only the first out of range:
- true - generates only a signal of the first channel boundaries breakthrough,
- false - also generates a signal when the reverse boundary of the channel is broken through;
- mirror signal:
- true - generates a signal of rolling back from the channel boundaries,
- false - generates a signal of the channel boundaries breakthrough;
- signal bar close:
- true - generates a signal if a bar is closed beyond the channel boundary,
- false - generates a signal when the channel boundaries are touched;
- offset from the upper boundary (pips) - offset from the upper boundary of the channel for a breakthrough level;
- offset from the lower boundary (pips) - offset from the upper boundary of the channel for a breakthrough level;
- include weekend - includes weekend (Saturday and Sunday) to draw the channel;
- count day for draw - number of days to draw the channel (we do not recommend using over 10 days);
- time to search for a channel breakout (min) - time (in minutes) required for generation of the channel boundaries breakthrough signal;
Settings for Drawing the Channel Details on the Chart:
- draw, of the channel - draw the channel;
- draw, candle on the channel - draw a candle according to the channel;
- draw, penetration lines - draw breakthrough levels;
- draw, sign time - sign the channel time;
- draw, size height of the channel - sign the channel size;
- draw, lines of price move in the channel - draw a path of the price motion in the channel;
- draw, sign off prices extremums - sign the price extremums in the channel and their time points;
- draw, sign off prices OHLC channel - sign open, extreme and closing prices of the channel;
- OHLC_none - not to sign prices;
- OHLC_line - sign prices in a line on the top boundary of the channel;
- OHLC_bar - sign prices of the complete candle of the channel;
- OHLC_vertical - sign prices vertically.
Settings for Sending Breakthrough Signal Notifications:
- alert - sound alert;
- print in log - print the message in the log;
- send info signal to mail - send the message to an email;
- send info signal MetaQuotesID - send the message to the MetaQuotesID mobile terminal.
Color and Visual Settings of Lines and Fonts when Drawing the Channel:
- color constructed channel - color of boundary lines of the constructed channel;
- color channel under construction - color of boundary lines of the channel under construction;
- color bull candle - bullish candle color;
- color bear candle - bearish candle color;
- style lines channel - style of the channel boundary lines;
- width lines channel - width of the channel boundary lines;
- font name - name of a font of information concerning the channel;
- size font sign off channel - font size;
- width candle channel - width in bars to draw candles;
- style lines of price move in the channel - style of lines to draw a path of the price motion in the channel;
- width lines of price move in the channel - width of lines to draw a path of the price motion in the channel;
- draw, in the background - draw the channel in the background.