Channels Based on Extreme Prices - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
The indicator has only one adjustable parameter, which indicates how long the previous channel high and low boundaries should be displayed.
Figure 1 Channel length is set to 1
Figure 2 Channel length is set to 2
Figure 3 Channel length is set to 3
Figure 4 Channel length is set to 4
Figure 5 Channel length set to 5 (default)
Attachment download
📎 price_extreme_indicator.mq5 (5.28 KB)
Source: MQL5 #19788
Channel based on extreme prices - MetaTrader 5 script | Trading script download - MT4/MT5 resource usage and screening recommendations
Channel based on extreme prices - 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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