Algorithm for calculation:
- Define the highest and the lowest price value for a period and check if they located within the boundaries of the range specified.
- If point 1 is claimed, add / subtract padding from the found values 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
High Low Flat Channel is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
High Low 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 High Low Flat Channel.mq5?
- Download High Low Flat Channel.mq5
- Copy High Low 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 High Low Flat Channel.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator High Low Flat Channel.mq5 is available on your Chart
How to remove High Low 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: