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The 1vs Channel indicator is a simple MT4 indicator. It counts the number up and down bars to show the market direction. Indicator plots multiple lines to the chart. These lines create a channel around price. Indicator counts how many bars are within the channel to indicate BUY or SELL signals.
Additionally, there is FirstBar and DeltaBar in the Indicator. These bars represent up and down bars. On the right side, you will see the indicator showing the number of up bars and down bars within each channel. The 1vs channel indicator works best when it has higher time frames. Also, forex traders may use other indicators to confirm signals.
Conclusion
The 1vs Channel indicator for MT4 allows you to create a channel that will show you the up and down bars. Also, it is completely free to download, making it easy for forex traders to use.
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