Adjustable Price Channel MT4

APriceChannel is a modification of the standard Price_Channel indicator.

The EA draws 2 levels - the upper level shows the price High for the specified period of time, the lower level shows the price Low for the same period. In addition to the period, you can set vertical offset in points to widen the channel up and down. This prevents false breakouts of current support/resistance levels.

Inputs

• Period - time period in bars - the number of bars to calculate the price High/Low.
• Offset up and down - vertical offset in points to widen the channel:
  • upper level = High(period) + Offset
  • lower level = Low(period) - Offset

The colors and styles of the levels can be configured on the Colors tab.