Smooth Channel Touch MT5
- Indicatori
-
Artur Danowski
I am an independent trader and MQL5 developer focused on creating practical trading tools for Forex and Gold markets, especially XAUUSD.
My work combines technical analysis, market observation, and automated trading logic. - Versione: 1.0
- Attivazioni: 10
Smooth Channel Touch MT5 is a clean volatility channel indicator with smooth bands, touch signals, arrows and alerts.
Smooth Channel Touch MT5
Smooth Channel Touch MT5 is a clean volatility channel indicator with smooth bands, touch signals, arrows and alerts.
The indicator is especially useful for volatile instruments such as Gold (XAUUSD), where dynamic price reactions around channel boundaries can provide clear visual trading zones. It can also be used on Forex pairs, indices, commodities and other symbols supported by MetaTrader 5.
The indicator draws smooth upper and lower channel bands directly on the chart and marks potential BUY and SELL reaction zones when price touches or reaches the channel boundaries.
It is designed for traders who want a simple, visual and easy-to-read tool for identifying dynamic reaction zones, overextension areas, pullback zones and possible reversal points.
How It Works
The indicator calculates a smoothed price channel and detects when price reaches the upper or lower boundary.
A SELL signal can appear when price touches or reaches the upper channel band.
A BUY signal can appear when price touches or reaches the lower channel band.
The signal logic is visual and simple. The indicator does not open trades automatically. It is intended as a decision-support tool for manual traders.
Recommended Usage
Smooth Channel Touch MT5 can be used together with trend filters, support and resistance levels, price action, session analysis or higher timeframe confirmation.
For better results, avoid using signals blindly in strong one-directional trends without additional confirmation.
Input Parameters
Channel Settings
- Channel Length — Defines the main channel calculation length. Higher values create a smoother and slower channel.
- Band Deviation — Controls the distance between the center calculation and the upper/lower bands.
- Band Calculation Mode — Selects how the band width is calculated: ATR or Standard Deviation.
- Band Period — Defines the period used for ATR or Standard Deviation band calculation.
- Applied Price — Selects the price type used for calculation, such as Close, Open, High, Low, Median, Typical or Weighted price.
- Max Bars To Calculate — Defines the maximum number of historical bars calculated by the indicator. This option helps improve performance and reduce loading time, especially on lower timeframes or symbols with large history. Set 0 to calculate all available bars.
Band Smoothing
- Band Smoothing Period — Defines how strongly the upper and lower bands are smoothed.
- Band Smoothing Mode — Selects the smoothing method: None, EMA, SMA or SMMA.
Band Appearance
- Upper Band Color — Color of the upper channel line.
- Lower Band Color — Color of the lower channel line.
- Band Line Width — Thickness of the channel lines.
Signal Arrows
- Show Signal Arrows — Enables or disables BUY and SELL arrows on the chart.
- Sell Arrow Color — Color of the SELL signal arrow.
- Buy Arrow Color — Color of the BUY signal arrow.
- Arrow Size — Size of the signal arrows.
- Arrow Distance in Points — Distance between the arrow and the candle.
- Touch Tolerance in Points — Additional tolerance for detecting band touches. Higher values generate more signals.
Alerts
- Enable Alerts — Enables or disables all alert functions.
- Alert on Current Bar — If enabled, alerts can be triggered on the currently forming candle. If disabled, alerts are triggered only after candle close.
- Popup Alert — Enables MetaTrader popup alerts.
- Push Notification — Sends push notifications to the MetaTrader mobile app.
- Sound Alert — Enables sound alerts.
- Sound File — Selects the sound file used for alerts.
Important Note
Smooth Channel Touch MT5 is not an Expert Advisor and does not open, manage or close trades automatically.
This indicator does not guarantee profitable trades. Signals should always be confirmed with your own trading strategy, market analysis and risk management.
