Price Tunnel
Price Tunnel is a MetaTrader 5 indicator designed to help traders visualize market direction, identify potential reversal opportunities, and understand price movements through a dynamic channel system.
The indicator combines a smoothed central price line, upper and lower channel bands, color-coded BUY and SELL arrows, and a real-time information dashboard to provide a cleaner view of market conditions.
Whether you trade forex, gold (XAUUSD), indices, or other instruments, Price Tunnel helps you monitor price behavior and identify potential trading opportunities directly on your MT5 chart.
Key Features
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Dynamic Price Tunnel: Displays upper and lower channel bands around a smoothed central line to help visualize price movement.
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BUY & SELL Signals: Blue BUY arrows appear below candles, while pink SELL arrows appear above candles when the indicator detects potential reversal patterns.
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Market Direction: The dashboard identifies a bullish or bearish bias based on price relative to the central line.
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Price Position Detection: Shows whether price is above, below, or inside the tunnel.
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Multi-Timeframe Support: Allows you to calculate the tunnel using a selected timeframe, subject to the indicator's timeframe restrictions.
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Customizable Appearance: Change line colors, tunnel fill, arrow colors, line widths, and arrow sizes to suit your chart layout.
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Optional Tunnel Fill: Use a shaded channel for clearer visualization or disable the fill for a cleaner chart.
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Volatility Filter: Optionally filter signals when the channel width is below your chosen threshold.
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Volume Confirmation: Optionally require above-average tick volume before accepting a signal.
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Signal Cooldown: Limit how frequently new signals appear by setting a minimum number of bars between signals.
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Configurable Alerts: Enable popup alerts, sound notifications, email alerts, and push notifications.
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Live Dashboard: Displays the symbol, timeframe, market bias, current price position, tunnel width, and most recent BUY or SELL signal.
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Signal Timing Options: Choose whether chart arrows can appear on the current forming candle or only after the relevant candle has closed.
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Adjustable Sensitivity: Customize the channel smoothing period, applied price, and band deviation multiplier.
How It Works
Price Tunnel calculates a smoothed central line and surrounding channel bands. It then looks for a specific two-candle reversal pattern:
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Potential BUY: A bearish candle pushes below the lower band, followed by a bullish candle.
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Potential SELL: A bullish candle pushes above the upper band, followed by a bearish candle.
Optional volatility, volume, and cooldown filters can help refine the signals.
Dashboard Information
The built-in dashboard provides a quick overview of:
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Trading symbol and selected timeframe
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Bullish or bearish market bias
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Price position relative to the tunnel
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Current channel width as a percentage
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Most recent BUY or SELL signal and how many bars ago it appeared
Suitable For
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Forex traders
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Gold traders (XAUUSD)
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Intraday and scalping strategies
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Reversal and price-action analysis
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Traders who prefer a visual, chart-based trading tool
Recommended Usage
Use Price Tunnel alongside market structure, support and resistance, trend analysis, or other confirmation tools. Consider waiting for a candle to close before acting on a signal, particularly in volatile markets.
Important: Price Tunnel is an analytical indicator, not an automated trading robot. It does not execute trades or guarantee profitable results. Signals can be inaccurate, and settings should be tested on your preferred symbol and timeframe before live trading.
Trade with a plan. Confirm your setups. Manage your risk.
