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MT5 Channel type indicators

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



.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 178 times

Re: MT5 Channel type indicators

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"



*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 178 times

Re: MT5 Channel type indicators

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 :


*you can use it as any other stochastic
*color changes can be used as usual stochastic OB/OS signals
On chart stochastic (like).mq5
(22.5 KiB) Downloaded 135 times

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