FP Channel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The channel is based on price extremes over a period of time. The centerline, upper and lower channel boundary values are calculated to determine the pivot points used as hypothetical support and resistance levels.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on February 8, 2008.
Attachment download
📎 fp.mq5 (6.71 KB)
Source: MQL5 #781
FP Channel - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
FP channel - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. 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 only on titles or short-term profit descriptions.
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