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Price Channel Notifier MT4

PriceChannelNotify is a modification of the standard Price_Channel indicator.

In addition to the standard High/Low levels of the channel, the fooling features are available:

  • shift of the High/Low by the specified number of points or absolute price value;
  • displaying the High and Low as a zone of the specified width (separately for the upper and lower borders) with the ability to send alerts about crossing of the internal and external boundaries of the zones;
  • separate notifications about the price crossing the internal or external zone border, as well as about the changes in the channel levels;
  • repeated notification about the border crossing comes if the previous bar was inside the channel (bar High was below the level of the upper zone or bar Low was above the lower zone) and the price breaks the border again at the next bar.

A zone appears at the specified indent from the last High/Low, and it is displayed until a new bar updates the channel's High/Low.

Input parameters

  • Period - time period in bars - the number of bars to calculate the price High/Low.
  • Price offset unit - values in absolute units or points
  • Up/down offset value - vertical offset of the price - to widen the channel:
    • upper level = High(period) + Offset
    • lower level = Low(period) - Offset
  • Outer border offset - outer border offset from channel
  • Inner border offset - inner border offset from channel
  • Border delay - time period in bars - inner and outer levels appear when the channel price does not change for the specified number of bars until the next change
  • New channel notification - send notification when channel changes
  • Hit inner border notification - send notification when price crosses inner border
  • Hit outer border notification - send notification when price crosses outer border

For each notification, one of the values from the drop-down list can be selected:

  • None - do not send notifications
  • Alert - alert in the MetaTrader 4 terminal
  • Print - text output to the terminal window
  • Push notification - push-notification to mobile device

The colors and styles of the levels can be configured on the Colors tab.

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