A channel build on the values of two moving averages of High and Low, drawn as a cloud.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
Originally this indicator has been written in MQL4 and was first published in the Code Base on 18.10.2007.
MT5 Indicator – Download Instructions
XChannel is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
XChannel 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 XChannel.mq5?
- Download XChannel.mq5
- Copy XChannel.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 XChannel.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator XChannel.mq5 is available on your Chart
How to remove XChannel.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: