Constant Range Channel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
This is a very simple indicator. It plots a channel with a constant range of twice the value of the step parameter.
The range is broken when the lowest quote breaks through the upper limit of the channel range, or when the highest quote breaks through the lower limit of the channel range.
The code uses conditional compilation and will be compiled on MQL4 and MQL5.
Please note that the source code for all my codebase publications is now also available in the "Public Projects" tab with the meta-editor name "FMIC".
Attachment download
📎 constant_range_channel.mq5 (13.54 KB)
Source: MQL5 #39311
Constant Range Channel - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Constant Range 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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