The author of the idea:Â
MQL5 code author:
The EA searches for the minimum and maximum price for Channel bars starting with bar #1. If the Close price of bar #0 is less than the minimum price, open BUY position, if Close price of bar #0 exceeds the maximum price, open SELL.
Take profit (Virtual Take Profit) is virtual here – positions are closed at the market price when reaching a virtual take profit.