honje19960321 wrote: Sun Oct 09, 2022 11:46 pm G channel is a channel indicator with 3 lines- a middle line representing a central tendency and 2 Upper and Lower boundaries calculated based on the past values of same indicator.
Its based on the paper "Recursive Bands - A New Indicator For Technical Analysis" by Alex Grover and is a code conversion from TradingView.
The channel breakout of Upper or Lower boundaries represent a new trend or trend continuation while narrowing of bands represents ranging or low volatility conditions.
The channel can prove to be a good indicator of a trend direction and also a guide for trailing of stop loss.
It has only 2 variables.
Channel period - default set to 100. Price type.
G Channel Multiple
Coder: fxthegreat
Released date: Oct. 9th, 2021
inspired by sal's setting, I give you this indicator.
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So how do you trade?
When you see the price is above the yellow middle line,
and all red lines converge closely together, go LONG.
Vice versa for green lines.
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DOWNLOAD:
ZigZag_HH-HL-LH-LL_B BT sw.mq4
viewtopic.php?p=1295494103#p1295494103
Level Trading 123 BT.mq4
viewtopic.php?p=1295479534#p1295479534