The channel is based on the prices extreme values for a period. Central line, upper and lower channel borders values are determined by calculation of the Pivot Points used as assumed support and resistance levels.
This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 08.02.2008.
MT5 Indicator – Download Instructions
FP channel is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
FP 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 FP channel.mq5?
- Download FP channel.mq5
- Copy FP 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 FP channel.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator FP channel.mq5 is available on your Chart
How to remove FP 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: