MaxminChannelWithSlope - MetaTrader 5 Script - MT4/MT5 Resources
Simple max-min channel with slope. In fact, this is the sloped Donchian Pass. If the xslope input parameter is equal to 0, the indicator becomes a regular Donchian channel. Use momentum moving averages.
The indicator was originally written in MQL4 and first published in the code base on December 23, 2015.
Figure 1. MaxminChannelWithSlope indicator
Attachment download
📎 maxminchannelwithslope.mq5 (5.67 KB)
Source: MQL5 #14725
MaxminChannelWithSlope - MetaTrader 5 script usage and filtering suggestions
MaxminChannelWithSlope - MetaTrader 5 script is a resource related to Forex indicators. 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 on titles or short-term profit descriptions.
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