- Channel20 is very simple, but very useful, this idea is well known and I just write it.This indicator calculates the highest and the lowest rate of the last N candles (N is an input who is initially 20) this is very useful for detecting new tendencies if the rate break the Channel20 .
the source code is divided in 2 parts
- the channel20 source code (indicator)
- the library wich includes the fuction used by the indicator
MT4 Indicators – Download InstructionsChannel20 – indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data. Channel20 – 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 Channel20 – indicator.mq4?
- Download Channel20 – indicator.mq4
- Copy Channel20 – indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Channel20 – indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Channel20 – indicator.mq4 is available on your Chart
How to remove Channel20 – indicator.mq4 from your Metatrader 4 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
MT4 Indicators Download below: