Author: fajuzi
If you're looking for a straightforward yet effective tool for your trading arsenal, the Max-Min Channel with Slope might just be what you need. Essentially, this indicator is a modified version of the classic Donchian Channel, with the added benefit of a slope feature. This means you can easily gauge market trends while keeping an eye on price levels.
When you set the xslope input parameter to zero, the indicator reverts to the standard Donchian Channel, which is great if you're familiar with that method. Plus, it incorporates a Moving Average of the Momentum, making it a more dynamic tool for analyzing price movements.
This indicator was initially developed in MQL4 and made its debut on the Code Base back on December 23, 2015. Since then, it has gained traction among traders looking for a reliable way to identify potential entry and exit points.
Figure 1. The Max-Min Channel with Slope indicator
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