MPC - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
In a trading system, based on a channel breakout, a long position is opened when the price shows a new X-day high, and a short position is opened when the price forms a new X-day low. It can predict trend direction. But there's a problem - trend detection often has a lag, and most profits are lost.
This High Low Range (HLR) indicator helps solve the problem of entering the market before the channel breakout. The MPC indicator draws a simple channel using the extreme values of the specified period. It can be used for additional visual control of trading systems (channel breakouts), based on the High Low Range (HLR) indicator
The indicator was first implemented in MQL4 and published in the code base of mql4.com on January 25, 2007.
Attachment download
📎 mpc.mq5 (5.66 KB)
Source: MQL5 #790
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