G CHANNEL. all , i hide yellow line
Re: Bollinger Bands type indicators for MT4
1361"There is NO GOD higher than TRUTH" - Mahatma Gandhi
G CHANNEL. all , i hide yellow line
As soon as the high-low price of the candle touches the band, the candle should be drawn. This means that the price range of the candle is crucial so that the candle can be drawn. Then you could also add a filter to determine the distance.mrtools wrote: Sat Oct 29, 2022 10:22 am Sounds good, but how to determine when they resume the trend?
Sure, I agree you, however, I don’t advice to used it for every onemrtools wrote: Sat Oct 29, 2022 10:22 am Sounds good, but how to determine when they resume the trend?
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
Great job, well done. Look as beautiful as GMMABanzai wrote: Sun Oct 30, 2022 12:23 pm 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 all red lines converge closely together, go LONG.
Vice versa for green lines.
Banzai wrote: Sun Oct 30, 2022 12:23 pm
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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