MetaTrader 5 MT5 Indicators Position in channel – indicator MetaTrader 5

Position in channel – indicator MetaTrader 5

The indicator shows the position of the current price in a channel.

First it determines the channel boundaries. The upper boundary is defined as the maximal value of High[], the lower boundary is determined from the minimal values of Low[]. If the current value of Close[0] is located in the middle of the channel, its value is equal to 0. The price position is determined relative to the upper (from 0 to 10) and lower (from 0 to -10) channel boundaries.

Input parameters:

  • Period – number of bars, used in calculation of the channel.
  • X Coordinate – the horizontal shift relative to the lower right corner.
  • Y Coordinate – the vertical shift relative to the lower right corner.
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Position in channel


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