An indicator of the series of simple indicators without averaging. It is implemented as a channel with a fixed width.
The meaning of the indicator is quite clear from its code. Instead of analyzing the period, a fixed channel in both sides of the indicator line has been added. Initially it included period analysis, but experiments have shown that in the indicator values are mainly formed at the channel borders.
Use: first – we need to know the current trend at the older TFs. The most convenient way is to use the indicator on smaller timeframes with a small target. For example, for timeframe M5 the channel of 8 points works well. Enter a trade during correction one point above the main line of the indicator (to Sell) and one point below it (to Buy) with a target about 10 points, or one point beyond the channel. Better work with pending orders because small timeframe is used. Otherwise, you can be late sometimes.
This indicator was first implemented in MQL4 and published in CodeBase on 22.08.2007.
MT5 Indicator – Download Instructions
DynamicRS Channel is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
DynamicRS 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 DynamicRS Channel.mq5?
- Download DynamicRS Channel.mq5
- Copy DynamicRS 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 DynamicRS Channel.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator DynamicRS Channel.mq5 is available on your Chart
How to remove DynamicRS 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: