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Channel indicator. Calculated dynamically. Suitable for both working in the direction of the trend and inside the channel. Excellent results when working on timeframes from 4H towards the center of the channel.
Example of use: when the price touches one of the extreme lines – opening a deal in the center of the channel with a take profit on the nearest middle line of the indicator.
MT5 version
The indicator can be used in expert advisors (4 buffers), receiving data in a standard way.
Support: https://www.mql5.com/en/channels/TrendHunter
Settings:
- kstd_ – Channel width calculation factor;
- bars_ – Number of bars for building the channel;
- shift_ – shift.
