Equidistant Channel Indicator Mt4
What is equidistant channel.
Equidistant channel indicator mt4. Bb price on channel indicator. The equidistant channel can be bullish ascending or bearish descending depending on the direction of the trending price action. Equidistant price channel is a mt4 metatrader 4 indicator and it can be used with any forex trading systems strategies for additional confirmation of trading entries or exits.
Equidistant channel represents two parallel trendlines connecting extreme maximum and minimum close prices. Market price jumps draws peaks and troughs forming the channel in the trend direction. In this video forex trader jerome lee demonstrates how to use draw a channel in mt4 using the equidistant channel tool on gbpusd and eurusd.
In addition he explains the following. It s very simple with 2 clicks you can draw the equidistant channel. The equidistant channel has become one of my favorite technical patterns to trade.
It s formed by two parallel levels of support and resistance. This indi ca tor is designed for draw ing equidis tant chan nels. Paid indicators for mt4.
Downloadable file equidistant price channel rar contains equidistant price channel ex4 and equidistant price channel mq4. Wilson relative price channel. Two options are avail able.
It would be great if we can trace different channels on the same chart by setting activation and colors of each time frame as a parameter in general i would like to have a over view of channels in the h4 timeframe for h1 and d1. How to draw equidistant channel. Equidistant channel is an indicator that automatically adds a trend line parallel to the trend line.
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