Price_Channel_Trend - MetaTrader 5 Script - MT4/MT5 Resources
Trend indicator based on the intersection of a pivot level and its median.
The pivot level is calculated by the following formula:
PL=(maximum value+minimum value+closing)/3
Price_Channel_Trend Indicator
Attachment download
📎pctrend.mq5 (4.68 KB)
Source: MQL5 #1909
Price_Channel_Trend - MetaTrader 5 script usage and filtering suggestions
Price_Channel_Trend - MetaTrader 5 script is a resource related to trading scripts. 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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