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MT5 Channel type indicators
Posted: Thu Nov 25, 2021 8:02 am
by mrtools
From Mladen Rakic:
As simple as it gets, channels based om high, low and ATR distances, Shows possible short term support / resistance or can be used as tp/sl in some trading systems
Recommendations:
.in this form it is not meant to be used signals
.instead it should be used for trends, support, resistance estimation, or, as told above, for TP or SL settings
Re: MT5 Channel type indicators
Posted: Sat Nov 27, 2021 4:32 am
by mrtools
From Mladen Rakic:
Limit channels that is extended with a display of "states".
"states" are displayed as colored histogram
they can be calculated using :
level 3 - outer levels - the "slowest"
level 2 - middle levels
level 1 - the inner levels - the "fastest"
Recommendations:
*This is just a suggestion how the levels of this kind can be used
*A lot more combinations from 6 levels can be added but that is left to the discretion of anybody using the levels indicator
*You can use color changes as possible "signals"
Re: MT5 Channel type indicators
Posted: Wed Dec 29, 2021 7:26 am
by mrtools
From Mladen Rakic:
This is a sort of stochastic indicator on chart. If, defaults are used, then it calculates the same way as built-in stochastic that uses high/low prices. In this indicator you have choice of extended (non-standard) prices
Comparison to "regular" stochastic :
Recommendations:
*you can use it as any other stochastic
*color changes can be used as usual stochastic OB/OS signals
Re: MT5 Channel type indicators
Posted: Wed May 11, 2022 11:14 am
by Banzai
The channel of this Donchian and the channel of this Stochastic are very close.
Re: MT5 Channel type indicators
Posted: Thu May 19, 2022 1:01 pm
by 太虚一毫
Banzai wrote: Wed May 11, 2022 11:14 am
The channel of this Donchian and the channel of this Stochastic are very close.
Looking forward to Mr. Banzai adding buttons to this channel version.
Infinite merit!
Re: MT5 Channel type indicators
Posted: Thu May 19, 2022 10:55 pm
by Banzai
太虚一毫 wrote: Thu May 19, 2022 1:01 pm
Looking forward to Mr. Banzai adding buttons to this channel version.
Infinite merit!
Donchian channel (sl).mq5
(6.77 KiB) Downloaded 3 times
Re: MT5 Channel type indicators
Posted: Sat May 21, 2022 2:41 am
by 太虚一毫
Banzai wrote: Thu May 19, 2022 10:55 pm
When teachers have free time, consider adding a button to the stochastic channel.
Infinite merit!
Re: MT5 Channel type indicators
Posted: Sat May 21, 2022 3:38 am
by Banzai
太虚一毫 wrote: Sat May 21, 2022 2:41 am
When teachers have free time, consider adding a button to the stochastic channel.
Infinite merit!
Re: MT5 Channel type indicators
Posted: Sat May 21, 2022 11:16 pm
by 太虚一毫
Is it logical to use the Donchian channel of OBV (extended), cci (mimic), Rex (extended) as the level of Schaff tcd RSI.mq5?
Another: Is there any way to add Donchian channel to Schaff tcd RSI .mq5 in the source code?
Re: MT5 Channel type indicators
Posted: Sun May 22, 2022 9:47 am
by Banzai
太虚一毫 wrote: Sat May 21, 2022 11:16 pm
OBV (extended).mq5
(8.61 KiB) Downloaded 4 times
OBV (extended) [on/off button]
