The Price Channel indicator calculates the highest high and lowest low for the price values of bars.
Lines show the highs and lows, on which they are drawn. When the market moves above the upper line, this means the market is becoming stronger. Accordingly, when the price falls below the lower line, this means the market is weak. Steady movement above or below the previous levels of the channel may indicate s major breakout.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 29.12.2005.
MT5 Indicator – Download Instructions
PChannel Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
PChannel Metatrader 5 Indicator 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 PChannel Metatrader 5 Indicator.mq5?
- Download PChannel Metatrader 5 Indicator.mq5
- Copy PChannel Metatrader 5 Indicator.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 PChannel Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator PChannel Metatrader 5 Indicator.mq5 is available on your Chart
How to remove PChannel Metatrader 5 Indicator.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:
PChannel Metatrader 5 Indicator