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MetaTrader 5 Indicator | Channel based on extreme prices

The indicator has only one adjustable parameter, which indicates how long the previous channel high and low borders should be shown.

  • Length of levels - the length of channel borders.

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Fig.1 Channel length set to 1

MetaTrader Experts, Indicators, Scripts and Libraries

Fig.2 Channel length set to 2

MetaTrader Experts, Indicators, Scripts and Libraries

Fig.3 Channel length set to 3

MetaTrader Experts, Indicators, Scripts and Libraries

Fig.4 Channel length set to 4

MetaTrader Experts, Indicators, Scripts and Libraries

Fig.5 Channel length set to 5 (default)

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