Technical Indicators for MetaTrader 5
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MetaTrader 5
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Overview
The indicator Price Channel consists of two independent price channels and levels of price zones - (A / B). The indicator constantly monitors the behavior and movement of prices, as well as the breakdown of channel levels - (A / B), rearranging levels and fixing new zones of extremums and minima.
To analyze the previous and current high and low zones, regardless of the number of bars in each channel - (A / B).
On the chart, the indicator displays useful information for each channel - (A / B):
1. Number of specified bars in the analysis of each channel.
2. Delta - distance between levels of each channel.
1. Example of indicator application: In order to search and update zones and new local levels of maximums and minimums (top or bottom), in channel (A) we indicate a range of (100 - 500) bars for example. We do not want to use channel (B), so in channel (B) we indicate (0) bars.
Levels of the - (B) channel will disappear on the chart and do not disturb us.
2. Example of application of the indicator: To search for the price and breakdown of a flat in a narrow corridor, in the channel (B) we indicate a range of (1-5) bars for example.
We do not have to use channel (A), but pointing to (0) bars.
Levels of channel (A) will disappear on the chart and do not disturb us.
3. Example of indicator application: In channels (A / B) we can specify different ranges of bars, assigning each channel for its own purposes.
The indicator Price Channel has eight signal buffers for manual as well as automatic trading when writing and applying the author's Expert Advisors. The idea and the basis can be applied to my author's indicator - Price Channel. If you buy an indicator for this purpose, please email me and I will send you all the parameters required to call the indicator in the Expert Advisor as a resource.
There are signals for breakout levels outside and inside channels - (A / B).
For the channels (A / B) have their own independent signal buffers:
SetIndexBuffer(0,ArrUpInA);
SetIndexBuffer(1,ArrDnInA);
SetIndexBuffer(2,ArrUpOutA);
SetIndexBuffer(3,ArrDnOutA);
SetIndexBuffer(4,ArrUpInB);
SetIndexBuffer(5,ArrDnInB);
SetIndexBuffer(6,ArrUpOutB);
SetIndexBuffer(7,ArrDnOutB);
Indicator settings - Price Channel:
[ A ] Channel "Analysis Settings
[ A ] Scanner Bar
[ A ] Shadows Bar
[ A ] Previous levels
[ A ] Channel "Output Signal Settings
[ A ] Signals if channel exit
[ A ] Shift Signal Out (0/1)
[ A ] Channel "Input Signal Settings
[ A ] Channel Entry Signals
[ A ] Shift Signal In (1<)
//---
[ B ] Channel "Analysis Settings
[ B ] Scanner Bar
[ B ] Shadows Bar
[ B ] Previous levels
[ B ] Channel "Output Signal Settings
[ B ] Signals if channel exit
[ B ] Shift Signal Out (0/1)
[ B ] Channel "Input Signal Settings
[ B ] Channel Entry Signals
[ B ] Shift Signal In (1<)
//---
[ A / B ] "Alert settings
[ A / B ] Alert Sound
[ A / B ] Alert Message
[ A / B ] Alert Email
[ A / B ] Alert Mobile
//---
[ A ] Signal Bar In (current/close)
[ A ] Signal Bar Out (current/close)
[ B ] Signal Bar In (current/close)
[ B ] Signal Bar Out (current/close)
//---
[ A ] Sound File In Up
[ A ] Sound File In Dn
[ A ] Sound File Out Up
[ A ] Sound File Out Dn
[ B ] Sound File In Up
[ B ] Sound File In Dn
[ B ] Sound File Out Up
[ B ] Sound File Out Dn
//---
[ A / B ] "Design Settings
[ A / B ] Arrows Otstup
[ A ] Line Color
[ A ] Line Width
[ A ] Line Style
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Thank you for your attention to my auto idea and working tool!
