KLEO CHANNEL SET MT4
KLEO CHANNEL SET consists of two channels. The first one is a modernized Price Channel (a channel drawn based on price Highs and Lows for a selected period), where you can shift the upper and lower levels, select the minimum and maximum price ranges and indicate breakthrough moments. The second one is a channel with fixed levels drawn relative to the open price of a specified hour, which allows indicating your work time.
1 Indicator Inputs
Parameters of UPDATING PRICE CHANNEL | Description of the parameters |
---|---|
Bars | The number of bars for calculating UPDATING PRICE CHANNEL. If the value is negative, the channel will not be displayed. |
Shift from High | Shift of the upper level in pips. |
Shift from Low | Shift if the lower level in pips. |
Max delta | Maximal range of the price change ((High - Low) value for the Bars period) to consider the channel being absent. If this range is greater than Max delta, the levels will not be displayed. |
Min delta | Minimal range of the price change ((High - Low) value for the Bars period) to consider the price not moving. If this range is less than Min delta, the levels will not be displayed. |
FIXED LEVELS Parameters | Description of the parameters |
---|---|
Open Hour | Hour of the open price used for calculation of the fixed levels. The levels are valid from this hour to the same hour of the next day. |
High level | Upper level = (Open price at Open Hour) + (High level points). |
Low level | Lower level = (Open price at Open Hour) - (Low level points). If High level and Low level are equal to 0, the channel will not be displayed. |
Start time | Operation start time. The levels are not displayed at working and nonworking time. |
Close time | operation end. (Start time > Close time) means overnight working time. (Start time = Close time) means twenty-four-hour operation. |
Note:
- Default colors are picked for the black on white color scheme of the chart.
- All the input parameters are specified as for 4-digit quotes. Recalculation for 5-digit quotes is automatic.
- The second channel is plotted on H1 or lower periods.
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