Draw Arc Channel in Four Clicks - MetaTrader 5 Script - MQL5 #19640 - MT4/MT5 Resources
This implementation serves more as training material and attempts to motivate MetaTrader 5 developers to add such tools to the standard MetaTrader 5 object set. It is not implemented in the form of a class, parameters are saved and passed when changing the time frame, multi-channels and smoothness are not implemented, the channels continue to the right of the last bar. If the idea is needed, a high quality version can be made.
Arcs are drawn according to the following formula:
Price = a+b*n+c*n²
Where a, b, c are coefficients, n is the number of bars.
In fact, it is a 2nd degree polynomial. Three points are enough to calculate the coefficients a, b, c.
Attachment download
📎 arc.mq5 (23.49 KB)
Source: MQL5 #19640
Draw Arc Channel in Four Clicks - MetaTrader 5 Script - MQL5 #19640 Usage and Filtering Advice
Draw an Arc Channel with Four Clicks - MetaTrader 5 Script - MQL5 #19640 is a resource related to trading scripts. 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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