I have a very annoying problem with the Equidistant Channel in MT4. basically what I usually do is that I pick a completed bar on my chart, then I draw an Equidistant Channel using one of the extremes of the bar. so far so good. but if a few bars later I try to draw another Equidistant Channel using the very same extreme of the very same bar as before, a different channel sometimes appears. it is either wider or narrower than the older channel, very often the difference is quite significant in pips.
this really confuses me, and brings out the question, what is the underlyig mechanism for Equidistant Channels in MT4? the best guess I could make is that the Channels are calculated based on the latest average range values. but what is the exact algorithm? does anybody know? please shed some light ...
this really confuses me, and brings out the question, what is the underlyig mechanism for Equidistant Channels in MT4? the best guess I could make is that the Channels are calculated based on the latest average range values. but what is the exact algorithm? does anybody know? please shed some light ...