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This is a very simple indicator. It plots a channel with a constant range of twice the step-size parameter value.
The range is broken when the low quote price breaks the upper level, or when the high quote price breaks the lower level of the channel’s range.
The code uses conditional compilation and will compile on both MQL4 and MQL5.
Please note that all my CodeBase publications’ source code are now also available in “Public Projects” tab of MetaEditor under the name “FMIC”.

Colors bars when their volume has exceeded more than a standard deviation, or a multiple of it. Volume is commonly used as confirmation for a break of a significant level.

Trade classes CTrade, CPositionInfo, COrderInfo, CSymbolInfo from MT5 rewritten for MT4

CCI of Moving Average with Dynamic Signal Lines

Adaptive grid expert for mt4