Dynamic channel for a trading day - MetaTrader 5 script | Trading script download - MT4/MT5 resources
Channels are calculated dynamically on every bar during the day. You can enter the hour and minute the trading day starts.
This indicator has two input parameters:
Note that on smaller timeframes the indicator takes some time for initial calculations.
Figure 1 M1 diagram
Figure 2 M5 diagram
Figure 3 M15 diagram
Fig.4 The M30 chart
Figure 5 H1 diagram
Figure 6 H4 diagram
Attachment download
📎trading_day_average.mq5 (6.25 KB)
Source: MQL5 #19802
Dynamic channel for a trading day - MetaTrader 5 script | Trading script download - MT4/MT5 resource usage and screening suggestions
Dynamic channel of a trading day - MetaTrader 5 script | Trading script download - MT4/MT5 resources are trading script related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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