Introduction to the High Way Channel Indicator
The High Way Channel indicator draws a trading channel that automatically adjusts to the market moves.
You should be looking for sell trades at the upper band (dark red color) and similarly, you should be looking for buy trades at the lower band (dark red color).
That indicator is displayed directly on the main trading chart.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the High Way Channel indicator in MT4?
Copy and paste the high-way-channel-indicator.ex4 or high-way-channel-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The High Way Channel indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
High Way Channel Indicator Free Download
To download the High Way Channel Indicator for Metatrader 4 (MT4) for free just click the button below: