Lines Channel Pro

The "Lines Channel Pro" indicator works on the principle of rebounding prices from a High / Low channel. It determines the direction of the trend and the place of entry / exit to the market using lines.

Explanation of parameters.

Use Channel trend filter- Enables the channel filter, within which the input signals are counted.
Lines Period - Specifies the period of the construction of the channel lines.
Price Method Calculating - The choice of calculating the construction of lines, there are 5 methods:

• Close - Calculation for closing the bar.
• Close / High / Low - Settlement for closing using the Max / Min price of the bar.
• High / Low - Calculation based on the Max / Min price of the bar.
• High / Low / MA - Calculation based on the Max / Min price of the bar using a moving average.
• MA - Calculation of a moving average.

Noise Level- The noise level used to reduce false signals when calculating lines with arrows.
Discrete Level- The level of line separation, useful for long trend lines in one direction for short-term trading.
The recommended timeframe for M15 to work is H4; for each timeframe and trading instrument, individual settings must be selected depending on the volatility.
The indicator does not redraw, in rare cases arrows may appear before the signal line.

Input parameters

• Use Channel trend filter - Turn on / off the trend filter
• Channel Filter Period - Trend filter period (from 10 and above)
• Lines Period - The period of the lines with arrows (from 5 and above)
• Price Method Calculating - Price method of calculation.
• Noise Level - Noise reduction level for line calculations.
• Discrete Level - The level of line separation.
• alerts play sound - alert with a sound signal.
• alerts display message - alerts with a message on the screen.
• alerts send notification - alert notification.
• alerts send email - Email alert.
• Sound file signal - Sound file for inputs.
• Sound file stop - Sound file for outputs.
• History Bars - The number of indicator bars on the chart.