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Forex Channel Trading

The indicator generates signals to open buy orders (up arrow) or sell (down arrow). Can be used as a signal to close a previously open order. For example, the appearance of the buy signal can be considered as a signal to close the earlier opened sell order. The indicator works on higher and lower time frames. The indicator can be used in strategies based on trading in a channel.

The minimum number of settings:
  • w = 0 - draw arrows.
  • w = 1 - draws lines instead of arrows (might be useful if the chart has a lot of other elements that may affect the visibility of the arrows).
  • br = 0 - handles all the bars, the main operating mode (the mode supports the display of arrows).
  • br = 20 - a positive integer - the number of the last processed bars. In this mode, only the channel lines are drawn, arrows are not displayed.
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Version 2.0 2015.04.24
Version 2.0. What's new:
br – number of the last bars to be processed (more than 20); 0 – process all bars. Signal arrows are displayed on the chart despite the number of specified bars (more than 20).
Added parameters allowing the indicator to display signal arrival messages:
Sound (FALSE/TRUE) – signal message window (implemented using Alert operator)
Email (FALSE/TRUE) – send a signal message via email (implemented using SendMail operator)
SNotification (FALSE/TRUE) – send a signal message to a mobile device (implemented using SendNotification operator)
info_time – used only if one of the variables (Sound, Email or SNotification) is set to TRUE.
The parameter defines that a new signal message is sent no earlier than after a specified number of minutes after sending the current notification. For example, the parameter is set to 15. A signal notification was sent in 17:03. A new signal appears in 17:13, but the notification is not sent. The next notification of a signal detected in 17:36 is sent, since the interval between the notifications exceeds the value of 15 minutes set in info_time parameter.