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Lopez Channel 2.0

Metatrader Indicator (MT4/MT5)

  • Overview

    This multi-timeframe indicator identifies the market's tendency to trade within a narrow price band.

    • 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

    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.

  • Input parameters

    When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.

    Timeframe
    Timeframe to calculate the bands from
    Indicator Period
    Amount of bars to look back to calculate the channel
  • ? FAQ
    Does the indicator repaint?
    No, it does not repaint.
    How is the indicator calculated?
    The indicator is calculated using a three
    Does the indicator implement alerts?
    No, it does not.
  • Comments

    Keep comments tidy and respectful. Avoid spam, offensive remarks, self-promotion and posting personal or payment information. The comment section is for discussion and questions only. Kindly note that we'll never solicit payments in the comments section.

Screenshots

Lopez Channel Indicator for Metatrader
Lopez Channel Indicator for Metatrader
Lopez Channel Indicator for Metatrader
Lopez Channel Indicator for Metatrader
Lopez Channel Indicator for Metatrader