Please find indicators and template for new Channel Trading System for M5 timeframe. I am currently testing it now to define the rules for 16 different pairs.
As it is price action system, and M5 timeframe is not easy to trade (channel is changed and everything is changed on the chart) so I am suggesting to you to use this indicator
Screenshot script? to take an image on every bar and to analyze the trades after that.
First post of this thread was updated.
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edited.
Igorad coded Var Mov Avg indicator with alerts.
If AlertMode=1 so:
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we will have alert on the indicator's dot (on close bar). Simple like that: "VarMA Signal for BUY" or "arMA Signal for SELL"
and
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we will have alert on price cross indicator's line (on close bar). Simple like that: "Price Crosses to above VarMA from below" or "Price Crosses to below VarMA from above"
and
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we will have warning alert (sound only) if the distance between the price and indicator's value is less than DeltaPips (DeltaPips - in the settings of indicator).
Please change Var Mov Avg idicator in your template to #Var Mov Avg indicator attached.