This indicator repeats the well-known version of the indicator for MetaTrader 4, which is freely available on the Internet. The indicator does not redraw. The indicator implements a breakout strategy. The arrows show the direction of the market. Use the indicator at intervals from M15 and higher. The indicator draws two bands near the price action and generates signals when the price closes below the lower and above the upper band. The indicator uses periodic highs and lows to calculate the lower and upper band thresholds. Moving averages are not applied.
- SSP = the number of bars in the past from which the maximum and minimum are selected to calculate the upper and lower bands.
- SkyCh = data parameter accepts integer values higher than 0. It regulates the amplitude of the bands and has an inversely proportional dependence on its magnitude. The higher the value, the greater the amplitude (the farther apart the upper and lower bands will be) and the smaller the signals.
- SetSignalAlert = takes the values true or false and enables or disables visual notifications.
- SendEmailNotificationOnSignal = takes the values true or false and enables or disables email notifications.
- PlaysoundOnAlert = takes the values true or false and enables or disables sound notifications.