PipTick Channel MT5

PipTick Channel indicator shows significant levels of correction for a certain period of time. These levels are determined based on the current price range and correspond to values ​​of 23.6, 38.2, 50, 61.8 and 76.4% of the price movement. In fact, this indicator shows the robust pivot point, which form a very strong levels of support and resistance. Also, it is a good assistant to determine the current trend.

Main characteristics

• The indicator shows significant levels of correction


• A simple definition of the current trend


• It works on all timeframes (M1, M5, M15, M30, H1, H4, D1, W1, MN)


• The indicator is not redrawn


• Ready for testing


• Adjustable parameters (color, line thickness, periods ...)


• An ideal tool for all forms of traffic (scalping, intraday trading, etc.)


• Very fast calculation


• It can be used to create advisers


• Designed for MT4 and MT5

Input parameters

• Channel_Period - during calculation of the indicator;


• Visibility_High - to enable or disable the display of the range of the maximum line;


• Visibility_Higher_Line_2 - to enable or disable the display of the top line 2;


• Visibility_Higher_Line_1 - to enable or disable the display of the top line 1;


• Visibility_Mean - to enable or disable the display of the center line range;


• Visibility_Lower_Line_1 - to enable or disable the display of the lower line 1;


• Visibility_Lower_Line_2 - to enable or disable the display of the lower line 2;


• Visibility_Low - to enable or disable the display of the range of the minimum;


• Color_High - color line maximum range;


• Color_Higher_Line_2 - Color top line 2;


• Color_Higher_Line_1 - color of the top line 1;


• Color_Mean - color of the line mid-range;


• Color_Lower_Line_1 - the color of the bottom line 1;


• Color_Lower_Line_2 - the color of the bottom line 2;


• Color_Low - line color range minimum.

indicator values

• High - the maximum value range;


• Higher_Line_2 - value of the top line 2;


• Higher_Line_1 - value of the top line 1;


• Mean - value mid-range;


• Lower_Line_1 - value lower line 1;


• Lower_Line_2 - value of the lower 2 lines;


• Low - the minimum value of the range.