Constant-Range Channel Indicator and Its Break Conditions

Summary

The document describes a simple price channel whose total width is fixed at twice a configurable step size. It explains the channel’s boundary-break condition: a break is flagged when the low price moves above the upper boundary or the high price moves below the lower boundary. This rule defines two directional ways price can cross outside the range.

The text gives no trading rationale, performance results, parameter guidance, or examples showing how to interpret these signals. It notes that the indicator source uses conditional compilation to support both MQL4 and MQL5. The channel therefore serves as a basic technical indicator, but the document does not establish whether its breaks predict continuation, reversal, or any profitable strategy.

Key ideas

• The channel has a fixed total width equal to twice the step-size parameter.
• A break is detected when the low price exceeds the upper boundary or the high price falls below the lower boundary.
• The source is designed to compile in both MQL4 and MQL5.
• The document provides no evidence about signal performance or trading use.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.