Equidistant MT4 Channels Made Easy: A Beginner’s Friendly Guide

The Equidistant MT4 Channel (also known as the Equidistant Price Channel) on the MT4 platform is a useful technical analysis tool for identifying trends and planning trades. It helps traders easily recognize important price levels and adjust their trading strategies.

If you are interested in using this tool, please read on for details on how it works.

What is an Equidistant MT4 Channel?

An Equidistant Channel is an automatically plotted technical indicator that draws a parallel trend line to the existing trend line. An Equidistant Channel is formed when prices find support and resistance between two parallel trend lines.

Though the name sounds complex, "equidistant" simply means "equal distance." In other words, the parallel trend lines are spaced a consistent distance apart.

How to display the Equidistant Channel on MT4

By drawing the Equidistant channel on a chart, traders can gauge the strength of a trend based on the length, slope and width of the channel.

Displaying and drawing the Equidistant channel on MT4 is straightforward. I will provide instructions below on how to do this.

In summary, the article introduces the Equidistant Channel indicator available on the MT4 platform, explains what it is, and provides instructions for how to display and draw it to help identify trends and trading opportunities. Let me know if any part needs further clarification.

Methods to display Equidistant Channel on computer:

Method 1: Open the chart where you want to draw the channel line on MT4/MT5. Select "Add" from the toolbar, then select "Trend Channel" and choose the type of Equidistant Channel.

To draw the channel line, similar to drawing a trend line, you can automatically generate parallel lines by connecting high and low points with diagonal lines.

Method 2: You can also quickly click on the "E" icon on the MT4 toolbar. 

Then just drag and drop the low price group of the chart. The trend lines will automatically be drawn parallel to each other.

Displaying Equidistant Channel on MT4/MT5 for smartphones

Press the graphic icon on the chart screen and select "Add Object". Select the channel type from the channel menu in the add object list (select Equidistant Channel).

Return to the chart and draw the channel line similar to drawing a trend line. Here, to adjust the position of the channel line, you can touch and drag the channel line you want to move it to the desired position.

In summary, the article provides two methods to display the Equidistant Channel indicator on the computer version of MT4/MT5, as well as instructions for displaying it on the mobile/smartphone version. Let me know if you need any part of the translation clarified.

Guide to using the Equidistant Channel on MT4

Editing drawn Equidistant Channels

You can edit Equidistant channels that have already been drawn.

To copy a Equidistant channel, double click on the channel line to display circular dots, then drag and drop.

If you want to move the Equidistant channel, hold down the Ctrl key while dragging and dropping. 

The channel line can be edited by adjusting the:

• Start point: The beginning of the trend line, angle can be changed by dragging.
• Support point: Located between the start and end points, can be moved by dragging.
• End point: The end of the trend line, angle can be changed by dragging.
• Width adjustment: Change the width of the channel by dragging.

Deleting Equidistant Channel

To delete a channel, double click to display circular dots, right click and select "Delete". Color and other properties can also be changed from the properties menu.

Trading with Equidistant Channels

The Equidistant Channel can be used to observe the amplitude of trend movements. Trading strategies like counter-trend bounces off the line or momentum breaks above/below can be applied.

See also:

• Boost Your Trading Strategy with MACD MT4 Indicator Setup Guide
• RSI MT4 Guide: Maximize Profits with Precision Trade Signals

Traders can use the support and resistance levels provided by the channel to determine entry (buy near increasing channel support or sell near decreasing channel resistance) and exit points (price approaches trend lines or breaks the channel).

In conclusion, the Equidistant Channel is commonly used to predict the continuation of the current trend and provides clear support and resistance levels. Traders can apply it in their technical analysis and trading decisions.