Constant Range Channels and Price Break Conditions

Summary

This document describes a simple technical indicator that plots a channel with a fixed range equal to twice its step-size parameter. It defines a channel break using price extremes: a low quote crossing above the upper level or a high quote crossing below the lower level. The description gives the channel’s width and break conditions, but it does not specify entry rules, exits, position sizing, or how the indicator should be used in a complete strategy.

The publication notes that conditional compilation allows the code to compile in both MQL4 and MQL5. It provides no charts, market examples, backtest results, or evidence about profitability or robustness. The stated rules therefore explain the indicator’s construction and signal condition, while leaving interpretation and evaluation to the user.

Key ideas

• The indicator plots a channel whose range is twice the configured step size.
• A break is signaled when the low crosses above the upper channel level.
• A break is also signaled when the high crosses below the lower channel level.
• The code is described as compiling in both MQL4 and MQL5.
• The document provides no trading rules or performance evidence.

Tags

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