Algorithm for calculation:
- Find the highest and the lowest closing price for the stated period and check whether they located within the boundaries of the range specified.
- If point 1 is claimed, find the highest and the lowest price value for a period, add / subtract padding and draw the boundaries of the channel.
- If “Consider previous boundaries” parameter is true, previous channel boundaries will be considered, if there was such a channel on the previous bar.
MT5 Indicator – Download Instructions
Close Flat Channel is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Close Flat Channel 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 Close Flat Channel.mq5?
- Download Close Flat Channel.mq5
- Copy Close Flat Channel.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 Close Flat Channel.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Close Flat Channel.mq5 is available on your Chart
How to remove Close Flat Channel.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: