The channel. Forex indicator for MT4
It's an open secret that according to the statistics a price spends most of the time in a channel.
That is why strategies, which operate on a principle of the price bounces from the channel borders, are the most attractive.
The channel indicator allows to trade using precisely these methods. It will be a good foundation for or a supplement to your channel strategy.
One way to use indicator lines is shown in the screenshot.
Settings
- Channel_Period = 34; - channel period
- Channel_Width = 1.618; - channel width ratio
Wish you successful and stable trading!
