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– Alert, Notification and mail when purchase price reaches a level.

– secondly channel possible.

– The Channel upgrades with every new bar, so moves together with time.

– Alert, Notification and mail when purchase price reaches a level.

– secondly channel possible.

– The Channel upgrades with every new bar, so moves together with time.

Description

Description

Standard Deviation Channel is constructed in the base of Linear Regression Trend symbolizing a customary trendline built between two points on the price chart using the method of least squares.
consequently, this line proves to be the specific median line of the changing price.
It can be regarded as an equilibrium price line, and any deflection down or up signifies the superactivity of sellers or buyers respectively.
Standard Deviation Channel consists of two parallel lines, equidistant up and down from the Linear Regression Trend.
The distance between frame of the channel and regression line equals to the value of the standard deviation of the close price from the regression line.
All price changes take place within Standard Deviation Channel, where the lower frame works as support line, and the upper one does as resistance line.
Read More...

Prices usually exceed the channel frames for a short time.
If they keep outside of the channel frames for a longer time than usually, it forecasts the possibility of trend turn.
(reference www.metatrader5.com)
Settings
  • Bars¬†– how many bars back from current (or previous, depending on next setting) bar to start channel
  • Include Current Bar¬†– if false, it only redraws on a new bar
  • Channel 1 Deviations
  • Channel 1 Color
  • Channel 1 Line Style
  • Channel 1 Line Width
  • Draw Channel 2
  • Channel 2 Deviations
  • Channel 2 Color
  • Channel 2 Line Style
  • Channel 2 Line Width
  • Center Line Color
  • Center Line Style
  • Center Line Line Width
  • ———— Alerts
  • Show Alert
  • Send Notification
  • Send Email
  • Also on Center Line
  • Disable on Start Up¬†– to enable/disable this first alert if current bar covers a line (level) each time you deploy the indicator or change a setting
  • Bars¬†– how many bars back from current (or previous, depending on next setting) bar to start channel
  • Include Current Bar¬†– if false, it only redraws on a new bar
  • Channel 1 Deviations
  • Channel 1 Color
  • Channel 1 Line Style
  • Channel 1 Line Width
  • Draw Channel 2
  • Channel 2 Deviations
  • Channel 2 Color
  • Channel 2 Line Style
  • Channel 2 Line Width
  • Center Line Color
  • Center Line Style
  • Center Line Line Width
  • ———— Alerts
  • Show Alert
  • Send Notification
  • Send Email
  • Also on Center Line
  • Disable on Start Up¬†– to enable/disable this first alert if current bar covers a line (level) each time you deploy the indicator or change a setting

Remark

Sending Notifications and Emails has to be configured in the Trading Platform as well and Events has to be enabled for the Alert.
Go to Tools/Options/Notifications (or Email or Events) tab.
If you need help with that then click Help on those tabs or hit F1.

Sending Notifications and Emails has to be configured in the Trading Platform as well and Events has to be enabled for the Alert.
Go to Tools/Options/Notifications (or Email or Events) tab.
If you need help with that then click Help on those tabs or hit F1.

It is possible to generate a signal in your EA.
You can read the 5 indicator buffers (0 to 4):
  • center¬† ¬† ¬† ¬† ¬† ¬† = Line Index 0
  • top_channel_1¬† ¬† ¬†= Line Index 1
  • bottom_channel_1¬† = Line Index 2
  • top_channel_2¬† ¬† ¬†= Line Index 3
  • bottom_channel_2¬† = Line Index 4
  • center¬† ¬† ¬† ¬† ¬† ¬† = Line Index 0
  • top_channel_1¬† ¬† ¬†= Line Index 1
  • bottom_channel_1¬† = Line Index 2
  • top_channel_2¬† ¬† ¬†= Line Index 3
  • bottom_channel_2¬† = Line Index 4

Many green pips!
Walter

Our Useful Features & Services

Published

24 October 2018

Updated

18 December 2020

Current Version

1.3

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