XChannel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Channels are built on the values of two moving averages, high and low, drawn as clouds.
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 originally written in MQL4 and first published in the code base on October 18, 2007.
Figure 1. XChannel indicator
Attachment download
📎 smoothalgorithms.mqh (134.03 KB)
📎 xchannel.mq5 (6.07 KB)
Source: MQL5 #2103
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