MeetAlgo Channel Trading is a volatility-based indicator built using envelope theory. The indicator plots dynamic upper and lower bands based on recent price movement and statistical deviation. These bands aim to represent expected price boundaries, and values plotted outside the range may signal a shift in volatility.
The channel is designed to reflect general market behavior by identifying price areas that are relatively high or low. When price approaches or exceeds the upper or lower bands, a directional arrow is plotted to suggest potential reversal zones. These signals can be interpreted in combination with other forms of analysis.
The band width adapts to changing volatility, providing flexibility during different market conditions. The core method reduces lag by using a custom smoothing formula based on average price range.
Parameters Configurations
- Deviations: Adjusts the sensitivity of the bands to volatility.
- Minimum Bar Redraw: Sets the number of bars required before recalculating the channel.
- Show Analysis Report: Displays historical signal-based outcome statistics.
Notifications
- Signal Bar: Select whether calculations are based on live or closed bars.
- Pop-Up Alerts: Displays message alerts on the platform.
- Email Alerts: Sends email messages (requires setup in the platform).
- Push Alerts: Sends mobile alerts (requires platform configuration).
- Sound Alerts: Plays audio alerts from the cTrader
Soundsfolder. - Sound File Names: Names of sound files to use for directional signals.
