Trend Channel mt5

Trend Channel is a Forex trend arrow indicator for identifying potential entry points. I like it, first of all, because it has a simple operating mechanism, adaptation to all time periods and trading tactics. Created based on a regression channel with filters. We display the signals of the Trend Channel indicator on the price function chart using a mathematical approach.

How it works: when the price breaks through the overbought/oversold zone (channel levels), a buy or sell signal is generated. Everything is at the opening prices, so there is no redrawing, and the signal is formed at the opening price of the current candle. Also, the algorithm is created in such a way that the signals for buy and sell necessarily alternate, thus skipping unnecessary signals.

You can trade in any currencies, because the strategy is universal and shows entry signals, relying on price patterns. The main thing is to understand that indicator parameters must be selected for each instrument and each timeframe. Suitable for trading on small time frames because it ignores sudden price spikes or corrections in price movements by reducing market noise around the average price. The indicator can work both for entry points and as a filter.