In trading systems, based on the channel breakout, the long position is opened when the price shows new X days maximum, and short position is opened when the price forms new X day minimum. It allows to forecast the trend direction. But there is a problem – very often trend detected with a lag and the most of the profit is lost.
The HighestLowestRange (HLR) indicator helps to resolve the market entry problem before the channel breakout. The MPC indicator plots a simple channel using extermums of the specified period. It can be used for additional visual control of trading system (channel breakout), based on HighestLowestRange (HLR) indicator
This indicator was first implemented in MQL4 and published in Code Base at mql4.com 25.01.2007.
MT5 Indicator – Download Instructions
MPC is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
MPC 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 MPC.mq5?
- Download MPC.mq5
- Copy MPC.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 MPC.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MPC.mq5 is available on your Chart
How to remove MPC.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: