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Magic channel Free is a channel index for your MetaTrader 5 trading platform. This index permits you to find the most likely trend reversal points.

Unlike most channel indicators, Magic Channel is not redrawn.

The notification system (alert, email and mobile phone notifications) can help you monitor several trading instruments at the exact same time.

You just need to install the index on the charts, and when the indicator sign appears, an alert will be triggered.

together with our alert system, you won’t ever miss a signal to open a position!

Magic Channel Free is a demo version, it simply works on the USDCAD currency pair. The unlimited version can be purchased here:

https://www.mql5.com/ru/market/product/27221

Magic Channel Free is a demo version, it simply works on the USDCAD currency pair. The unlimited version can be purchased here:

https://www.mql5.com/ru/market/product/27221

  • The indicator is perfect for scalping.
  • Perfectly finds trend reversals.
  • Suitable for beginners and experienced traders.
  • It works on any timeframe.
  • Does not redraw.
  • Flexible notification system.
  • The ability to customize the graphics (size, and color of the lines).
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Buy signal: if the price crosses the lower line of the indicator from the bottom up (see screenshot 1, the entry points are marked with circles).

Sell signal: if the price has crossed the upper line of the indicator from top to bottom.

The indicator is best suited for intraday trading, on a timeframe from M5 to H4.

  • Period – the averaging period for calculating the indicator (key parameter).
  • PRICE – the price for calculating the indicator (OPEN or CLOSE).
  • Coefficient – the coefficient of the channel width. The higher the value, the wider the channel.
  • Alert – alerts.
  • Email – send messages to your email address.
  • Push-send push notifications.
  • clrupper – color of the upper line of the indicator.
  • clrlower – color of the lower line of the indicator.
  • Width – the thickness of the lines.

Evgeny Belyaev is a professional programmer and successful trader.

Our Useful Features & Services

Published

07 February 2018

Updated

14 September 2020

Current Version

4.0

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