The document describes a script that creates a channel indicator in MetaTrader 5. The script defines a 5 period moving average channel with adjustable offset levels and colors. It plots the upper, middle, and lower lines of the channel, and can fill the area between the lines. Price action outside the channel suggests the next candle should revert back inside the channel boundaries.
The document describes a script that creates a channel indicator in MetaTrader 5. The script defines a 5 period moving average channel with adjustable offset levels and colors. It plots the upper, middle, and lower lines of the channel, and can fill the area between the lines. Price action outside the channel suggests the next candle should revert back inside the channel boundaries.
The document describes a script that creates a channel indicator in MetaTrader 5. The script defines a 5 period moving average channel with adjustable offset levels and colors. It plots the upper, middle, and lower lines of the channel, and can fill the area between the lines. Price action outside the channel suggests the next candle should revert back inside the channel boundaries.
The document describes a script that creates a channel indicator in MetaTrader 5. The script defines a 5 period moving average channel with adjustable offset levels and colors. It plots the upper, middle, and lower lines of the channel, and can fill the area between the lines. Price action outside the channel suggests the next candle should revert back inside the channel boundaries.