There is much speculation that standard indicators of MT4 terminal have lags. Proving otherwise I would like to present a forward-looking indicator based on standard indicators included in MT4 package. The product draws overbought/oversold channel and indicates moments when an order can be opened. I recommend opening positions in the direction of the channel slope only. The indicator is non-redrawable.

Indicator Parameters

• MA period - number of bars used for calculation of the Moving Average indicator.
  
• MA method - moving average smoothing method.
• ATR period - number of bars used for calculation of the ATR indicator.
• ATR multiplier - multiplier of a classical formula for calculating Stop Loss by the ATR indicator.