ChanellOnParabolic - MetaTrader 5 Script - MT4/MT5 Resource
Real author:
The basis of the ZigZag channel is not fixed, but a sliding threshold calculated from parabolic SAR. Similar to Stop Loss, Fixed Threshold and Trailing Threshold (Stop Loss).
Indicator setting is performed by the standard input of Parabolic input parameters (step size and maximum value). Additionally, limits on the minimum available width of lanes have been increased to eliminate thin markets. It is set in points.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on June 17, 2009.
Figure 1 ChanellOnParabolic indicator
Attachment download
📎 chanellonparabolic.mq5 (7.45 KB)
Source: MQL5 #1313
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