MaChannel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
A simple trend indicator based on two moving averages in the form of NRTR. MA is based on a time series of highs and lows of a price series.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on June 18, 2012.
Figure 1. Horse Channel
Attachment download
📎 MaChannel.mq5 (10.95 KB)
📎 SmoothAlgorithms.mqh (130.2 KB)
Source: MQL5 #15606
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