The ChannelAnt indicator is a channel indicator based on the Moving Average. Its construction is based on the use of the balance line (violet, thick line) which “attracts” price to itself, and the remaining lines which are used according to its position as support and resistance lines.
When drawing Forex channels lines of the ChannelAnt indicator the ratio of 38%, 62%, 100% are used for deleting the balance line. It is recommended to use the ChannelAnt indicator on high timeframes starting from hour period. As a strategy it is possible to work as on rollback, so on breakthrough of levels depending on volatility of the currency pair and preferences.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.
MT5 Indicator – Download Instructions
ChannelAnt is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ChannelAnt provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ChannelAnt.mq5?
- Download ChannelAnt.mq5
- Copy ChannelAnt.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ChannelAnt.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ChannelAnt.mq5 is available on your Chart
How to remove ChannelAnt.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: