PipTick Channel

PipTick Channel shows the important retracement levels for a certain period. These levels are determined based on the current price range and correspond to values of 23,6, 38,2, 50, 61,8, and 76,4 % of the move. In essence, this indicator produces reliable pivots which form very strong levels of support and resistance. It is also a very good helper for determining the current trend.

Main Features

The indicator shows the important retracement levels
Simple determination of the current trend
Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
The indicator is non-repainting
Ready for backtesting

Customizable parameters (Colors, Line thickness, period...)
Ideal tool for all kinds of trading (Scalpers, intraday traders...)
Very fast calculation
Can be used for creating EA
Available for MT4 and MT5

Input Parameters

Channel_Period - Period for calculation of the indicator
Visibility_High - Allows enabling or disabling displaying of the high of the range line
Visibility_Higher_Line_2 - Allows enabling or disabling displaying of the higher line 2
Visibility_Higher_Line_1 - Allows enabling or disabling displaying of the higher line 1
Visibility_Mean - Allows enabling or disabling displaying of the midpoint of the range line
Visibility_Lower_Line_1 - Allows enabling or disabling displaying of the lower line 1
Visibility_Lower_Line_2 - Allows enabling or disabling displaying of the lower line 2
Visibility_Low - Allows enabling or disabling displaying of the low of the range line
Color_High - Color of the high of the range line
Color_Higher_Line_2 - Color of the higher line 2
Color_Higher_Line_1 - Color of the higher line 1
Color_Mean - Color of the midpoint of the range line
Color_Lower_Line_1 - Color of the lower line 1
Color_Lower_Line_2 - Color of the lower line 2
Color_Low - Color of the low of the range line