channel_breakout_entry - MetaTrader 5 Script - MT4/MT5 Resource
Real author:
Market volatility indicator. It calculates stop losses and draws price channels. According to the instructions, the red line shows where the stop loss should be placed when opening a new order at that location.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on October 19, 2007.
Figure 1 Channel_breakout_entry indicator
Attachment download
📎 channel_breakout_entry.mq5 (9.53 KB)
Source: MQL5 #1451
channel_breakout_entry - MetaTrader 5 script usage and filtering suggestions
channel_breakout_entry - 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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