ATR Channel Metatrader MQL Indicators Forex Trading Systems - XEATrade - Metatrader, Metastock, Tradestation, Amibroker

/*[[
	Name := Average True Range Channel
	Author := Damiani
	Link := 
	Separate Window := No
	First Color := Yellow
	First Draw Type := Line
	Use Second Data := Yes
	Second Color := Yellow
	Second Draw Type := Line
	Second Symbol := 218
]]*/


Inputs : PeriodsATR(18), MA_Periods(18), MA_type(MODE_EMA),Mult_Factor(2),Advance(0);
Variables : shift(0),cc(0), chanW(0);
Variables : bar(0), prevbars(0), start(0), cs(0), prevcs(0),commodt(0);

SetLoopCount(0);
cs= PeriodsATR+ MA_Periods+ MA_type+Mult_Factor+Advance; //checksum used to see if parameters have been changed
if cs=prevcs and (commodt=symbol)
	then start=Bars-prevbars //params haven't changed only need to calculate new bar
	else start=-1; 
commodt=symbol;
prevbars = Bars;
prevcs = cs;
if (start=1 | start=0) then bar=start else bar=bars-1;

For shift = Bar Downto 0 Begin
	cc=ima(MA_Periods,MA_type,shift);
	chanW=iatr(PeriodsATR,shift);
	SetIndexValue(shift-Advance,cc+Mult_factor*chanW);
	SetIndexValue2(shift-Advance,cc-Mult_factor*chanW);
//	loopbegin = loopbegin-1;
	
End;

Author/Source: Damiani

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