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Local Flat MT5

Description

The  indicator of local flat.

The indicator allows to find local flats in the following options:

  • Width of channels that is not more than certain number of points
  • Width of channels that is not less than certain number of points
  • Width of channels that is not more and not less than certain number of points

The indicator displays the middle and boundaries of the channel.

Attaching multiple instances of the indicator to the chart with different ranges leads to displaying a system of channels on the chart.

Purpose

The indicator can be used for manual or automated trading within an Expert Advisor. Values of indicator buffer of the double type can be used for automated trading:

  1. Upper boundary line - buffer 0.
  2. Lower boundary line - buffer 1.
  3. Channel middle line - buffer 2.

Values of the buffers must not be equal to EMPTY_VALUE.

Input parameters

  1. Range Wide - range wide in points.
  2. Range Tight - range tight in points.
  3. Number of Bars - number of bars on the chart for calculations (0 - all bars).
  4. Starting Length - starting length of flat in bars (range between 3 and 5).
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