Hi,

This indcator is improved version of the VoltyChannel_Stop which I developed many years ago. Now we have sepatate inputs for the Upper/Lower Band Price with ability to use 26 types of Moving Averages.
Plus I added the new important parameter - Ratchet:
  • < 0 - stops follow by the channel strictly
  • = 0 - stops move in one direction(similar to old versions)
  • > 0 - stops follow by the channel with Multiplier which will gradually decrease with each new HH/LL for uptrend or downtrend respectively.


Code:
//---- input parameters
extern int     TimeFrame            =     0;    //TimeFrame in min
extern int     UpBandPrice          =     0;    //Upper Band Price(ex.2 for High)     
extern int     LoBandPrice          =     0;    //Lower Band Price(ex.3 for Low) 
extern int     Length               =     1;    //MA Period
extern int     MA_Mode              =     0;    //MA Method(see list above)
extern int     ATR_Length           =    10;    //ATR's Period
extern double  Multiplier           =     3;    //Volatility Multiplier   
extern double  Ratchet              =   0.0;    //Ratchet(-1-off,>= 0-on) 
extern double  MoneyRisk            =  1.00;    //Offset Factor(eg.1.2)

extern int     SignalMode           =     1;    //SignalMode: 0-off,1-on 
extern int     LineMode             =     1;    //Line mode : 0-off,1-on  
extern int     DotMode              =     1;    //Dot mode  : 0-off,1-on  

extern string  alerts               = "--- Alerts & Emails ---";
extern int     AlertMode            =     0;
extern int     SoundsNumber         =     5;    //Number of sounds after Signal
extern int     SoundsPause          =     5;    //Pause in sec between sounds 
extern string  UpSound              = "alert.wav";
extern string  DnSound              = "alert2.wav";
extern int     EmailMode            =     0;    //0-on,1-off   
extern int     EmailsNumber         =     1;    //0-on,1-off

Attachment 1424

UPDATES:
2013.11.29 - version v6.1: 2 minor bugs fixed.


Regards,
Igor