PriceChannel_Stop

Hi All,

Please take a look at the latest version of PriceChannel_Stop indicator, the first version of which was developed for MT3 in 2005.
In this version 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 period of which will gradually decrease with each new HH/LL for uptrend or downtrend respectively.

This parameter can be a fractional value, for example, if it's equal 0.25 then the period will decrease every 4 HH bar for uptrend.

Code:

extern int     TimeFrame            =     0;    //TimeFrame in min
extern int     UpBandPrice          =     2;    //Upper Band Price(ex.2 for High)     
extern int     LoBandPrice          =     3;    //Lower Band Price(ex.3 for Low) 
extern int     ChannelPeriod        =     9;    //Channel Period (eg.9)
extern double  Risk                 =     0;    //Channel Narrowing Factor(0...0.5)   
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 int     BarsMode             =     1;    //Bars 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

Regards,
Igor