Adaptive Channel MTF
Adaptive Channel MTF indicator is a channel based on the moving average.
Six Moving Averages
One of the following moving averages can be used as a base one:
The channel width can be determined in the following ways:
- Using ATR (Average True Range) data;
- Using (Standard Deviation) data;
- Using a predefined value (in points)
This is a multi-timeframe indicator. If the Timeframe parameter is set to Current, the current timeframe will be used. Otherwise a certain period should be specified.
Signals on the Channel Breakthrough
A possibility to display the signals on the channel breakthrough is implemented in the indicator. Down arrow is drawn if:
- The open price is above the upper line of the channel;
- The close price is below the lower line of the channel.
There are two variants of the signal:
- When the price goes inside the channel from the upper or the lower line.
- When the price goes in the direction of the base moving average. From the medium line to the channel border.
The signals are produced at closed bars only.