Author: MaksiGen
The MaksiGen Channels indicator is a powerful tool designed for MetaTrader 5 that helps traders identify price change ranges effectively.
This indicator calculates the width of the trading channel based on specific input parameters. Here’s a quick breakdown of how it works:
input Hour StartHour1=H00; // Session start hour for the channel width input Min StartMinute1=M00; // Session start minute for the channel width input Hour EndHour1=H08; // Session end hour for the channel width input Min EndMinute1=M15; // Session end minute for the channel width
Once these parameters are set, the indicator draws the trading channel for two distinct sessions:
input Hour StartHour2=H08; // Session 1 start hour input Min StartMinute2=M15; // Session 1 start minute input Hour EndHour2=H12; // Session 1 end hour input Min EndMinute2=M30; // Session 1 end minute //---- input Hour StartHour3=H14; // Session 2 start hour input Min StartMinute3=M00; // Session 2 start minute input Hour EndHour3=H17; // Session 2 end hour input Min EndMinute3=M30; // Session 2 end minute
The core idea? To jump into the market as the European session opens, capitalizing on the breakout of the Asian channel.
This indicator was originally developed in MQL4 and made its debut on the Code Base at mql4.com on October 30, 2007.
Figure 1. The MaksiGen indicator
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