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MT5 Channel type indicators

#1
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
Image


Image

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
Limit channels.mq5
(10.01 KiB) Downloaded 39 times


Re: MT5 Channel type indicators

#2
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"

Image


Image


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"
Limit channels - with states.mq5
(12.38 KiB) Downloaded 29 times
Attachments 2
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