Price Channel
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This library provides a collection of modular, reusable code. It is utilized by developers to organize common functions, allowing for the integration of complex logic across multiple Expert Advisors, indicators, or scripts without the need for code duplication.
How to Setup and Use Price Channel
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
Description & Settings
PriceChannel the highest and the lowest price over the period selected.
This cross-platform library allows computing the PriceChannel without attributing it to standard bars, i.e., by ticks.
Accordingly, PriceChannel can be computed on any timeframe, including the one-second one. It can also work as a channel on ticks.
Example.
This EA will show in Tester the identical results: The standard one and that via the library.
Performance.
Standard calculations
Via the library
Features.
Calculations on every tick.
You can set any duration for the bar.
No binding to standard bars.
The largest default value (can be specified) is calculated by Bid, the smallest one by Ask.
The performance does not practically depend on the period.
