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Channel Trading

The indicator generates a signal to open buy orders (arrow up) or sell orders (arrow down). Can also be used as a signal to close previously opened order. For example, a buy signal can be considered as a signal to close an order previously opened for selling. The indicator works on higher and lower timeframes. The indicator can be used in strategies based on channel trading.

Minimum number of settings:

  • w = 0 - draws arrows.
  • w = 1 - draws lines instead of arrows (useful if there are too many other elements on the chart).
  • br = 0 - processing all bars, the main operative mode (the mode supports display of arrows).
  • br = 20 - positive value - number of last bars being processing. Channel lines are drawn and arrows are displayed in this mode.
  • Channel= 0, 1 – two different variants of channel lines drawing, if set to another value (for example 3) – channel lines are not displayed
  • Sound – FALSE / TRUE – window with signal notification (performed by Alert operator)
  • Email – FALSE / TRUE – signal notification is sent by email (performed by SendMail operator)
  • SNotification – FALSE / TRUE – signal notification is sent to mobile device (performed by SendNotification operator)

info_time – used only when Sound, Email or SNotification is set to TRUE. Value of this variable determines that new signal notification will be sent in no event sooner than stated number of minutes after sending current notification. For example, it is set to 15. Signal notification was sent at 17:03. Then there was another signal at 17:13, but notification will not be sent. But notification about next signal at 17:36 will be sent, as an interval between sending exceeds 15 minutes set in info_time.

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