Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
Wave Price Channel - A trading analytical system designed to search for momentum and correction.
The indicator allows you to work in the direction of the price channel, which is built on the basis of volatility.
When an arrow up or down is drawn on the channel, it becomes possible to go in this direction, the signal in this direction is confirmed by a dot indicator sensitive to price changes.
As long as the dots of the same color continue, the signal continues. If there is an arrow, but no dots of the same color, then the signal is false and you need to follow it when the dots appear.
The indicator allows you to work in the direction of the price channel, which is built on the basis of volatility.
When an arrow up or down is drawn on the channel, it becomes possible to go in this direction, the signal in this direction is confirmed by a dot indicator sensitive to price changes.
As long as the dots of the same color continue, the signal continues. If there is an arrow, but no dots of the same color, then the signal is false and you need to follow it when the dots appear.
- The indicator has a single changeable parameter "Price Channel Length" that can be changed for different time frames.
- It is recommended to use on time frames from M15 and higher.
- Can be used on any trading instruments.
- Arrows have several types of alerts.
- During operation, it is possible to change the signal arrow by 1 candle.
- If a red arrow up appears - a signal to make purchases, red dots - a continuation of the arrow trajectory.
- If a yellow arrow down appears - a signal to make sales, yellow dots - a continuation of the arrow trajectory.
