The indicator implements a breakthrough system using a channel drawn on extrema for a period.
When price exits the gray channel, the candlestick color changes to the color corresponding to trend direction. Blue for the growth of a financial asset, pink color – fall. Bright colors denote coincidence of trend direction and direction of a candlestick. Dark colors correspond to the situation when the direction of a candlestick is opposite to trend.
MT5 Indicator – Download Instructions
PChannel System is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
PChannel System 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 System.mq5?
- Download PChannel System.mq5
- Copy PChannel System.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 System.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator PChannel System.mq5 is available on your Chart
How to remove PChannel System.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: