Lopez Channel 1.0
Metatrader (MT4/MT5) Indicator
The Lopez Channel multi-timeframe indicator identifies the market's tendency to trade within a narrow price band. It should be used as a confirmation for trades being triggered in lower timeframes.
- It is easy to understand
- Finds overbought and oversold situations
- Draws at bar opening and does not repaint
- The calculation timeframe is customizable
- The red line is the overbought price
- The green line is the oversold price
It has straightforward trading implications.
- Look for buying opportunities when the market is oversold
- Look for selling opportunities when the market is overbought
Boost your trading returns with the cleanest price channel indicator available, just like hundreds of users have already done.
- ? FAQ
- Does the indicator repaint?
- No, it does not repaint.
- How is the indicator calculated?
- The indicator is calculated using a three-day moving average of the last two true highs minus ATR to derive the lower channel and a three-day moving average of the last two true lows plus ATR to derive the lower channel.
- Does the indicator implement alerts?
- No, it does not.