If you're diving into the world of trading, the Constant Range Channel indicator is a tool you'll want to have in your toolkit. It’s straightforward yet powerful, plotting a channel with a consistent range that’s double the value of the step-size parameter.
What sets this indicator apart? It signals when the market is breaking out. If the low quote price exceeds the upper boundary, or if the high quote price dips below the lower boundary, the range has been breached. This can be a goldmine for traders looking to capitalize on market movements.
The beauty of this indicator lies in its versatility. The code is designed using conditional compilation, making it compatible with both MQL4 and MQL5. So whether you’re trading with MetaTrader 4 or 5, you’re covered!
And here’s a little bonus: all my source codes published in the CodeBase are now also available under the “Public Projects” tab in MetaEditor, listed under the name “FMIC”. So you can easily access and utilize them for your trading strategies.
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