In trading systems, based on the channel breakout, the long position is opened when the price shows new X days maximum, and short position is opened when the price forms new X day minimum. It allows to forecast the trend direction. But there is a problem – very often trend detected with a lag and the most of the profit is lost.
The HighestLowestRange (HLR) indicator helps to resolve the market entry problem before the channel breakout. The MPC indicator plots a simple channel using extermums of the specified period. It can be used for additional visual control of trading system (channel breakout), based on HighestLowestRange (HLR) indicator
Trend Dashboard Indicator - indicator MetaTrader 5 Trend Dashboard Indicator MetaTrader 5 indicator — a multi-timeframe indicator that is based on three standard indicators: Stochastic oscillator, RSI…
