Magic Channel Free – indicator for MetaTrader 4. – Trading Strategies – 4 August 2021

Magic Channel Free is a channel indicator for the MetaTrader 4 buying and selling platform. The indicator searches for high-probability development reversal factors.

In distinction to most channel indicators, Magic Channel is non-redrawable.

The alert system (alerts, e mail and push notifications) will show you how to to concurrently monitor a number of timeframes.

Connect the indicator to a chart, and the alert will set off as soon as a sign emerges.

With our alerting system, you’ll by no means miss a single place opening sign!

Benefit of indicator

  • Good for scalping.
  • Glorious for figuring out development reversals.
  • Appropriate for rookies and skilled merchants.
  • Works on all timeframes.
  • Doesn’t repaint/redraw.
  • Versatile alerting system.
  • Chart customization (the scale and coloration of strains).

Use suggestion

Purchase when the value crosses the decrease line upwards (see screenshot 1, entry factors are encircled).

Open Promote orders when the value crosses the higher indicator line downwards.

The indicator is greatest suited to intraday buying and selling, on the timeframe from M5 to H4.


  • Interval – key parameter liable for the averaging interval for calculating the indicator.
  • PRICE – worth for the indicator calculation, OPEN or CLOSE may be chosen.
  • Coefficient – channel width ratio. Increased values draw wider channels.
  • Alert – allow or disable Alerts. True – enabled, false – disabled.
  • E-mail – allow/disable sending e-mails. True – enabled, false – disabled.
  • Push – allow/disable sending messages to the cellular terminal. True – enabled, false – disabled.
  • clrUPPER – the colour of the higher indicator line.
  • clrLOWER – the colour of the decrease indicator line.
  • Width – line width.

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