MaksiGen_Channels - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

Price change range indicator

The indicator determines the width of the channel based on the values ​​of the following input parameters:

 Enter hour StartHour1=H00; // Session start time for channel width
Enter minutes StartMinute1=M00; // Session start minute for channel width
Enter hour EndHour1=H08; // Session end time for channel width
Enter minutes EndMinute1=M15; // Session end minute for channel width

Then start plotting the interval between the two sessions:

 Enter the hour StartHour2=H08; // Session 1 start time
Enter minutes StartMinute2=M15; // Session 1 start minute
Enter the hour EndHour2=H12; // Session 1 end time
Enter minutes EndMinute2=M30; // Session 1 end minute
//----
Enter the hour StartHour3=H14; // Session 2 start time
Enter the minute StartMinute3=M00; // Session 2 start minute
Enter the hour EndHour3=H17; // Session 2 end time
Enter minutes EndMinute3=M30; // Session 2 end minute

Therefore, the idea is to enter when the European market opens and the Asian channel breaks out.

The indicator was originally written in MQL4 and first published in the code base of mql4.com on October 30, 2007.

Figure 1. MaksiGen indicator

Attachment download

📎 maksigen_channels.mq5 (13.57 KB)

Source: MQL5 #2073