Simple channel indicator. Not redrawn! Builds a channel like MA, but with a modified algorithm.
Shows three types of signal:
1. Trend reversals
2. Following the trend
3. Building a channel.
HistoryProcess - signal search depth (history depth)
ShowLine - show / hide channel lines (if you do not want to trade on channels)
ShowTrend - show / hide the trend arrows
ShowReverse - show / hide reversal arrow
How to trade:
Just follow the arrow directions. Up arrow - to buy, and down to sell!
The second option is when you can play from the borders of the channel!
Put the indicator on any currency pair and open two timeframes - H1 and M5. If on H1 the price went beyond the channel, then go to M5 - and wait for the price to go beyond the channel.
See the picture below.
Period - 150 - change channel averaging period
Dev - 250 - deviation from the price. The larger this value, the less often and more accurately the signals.