The Best and Most Popular Channel MT5 Indicators are listed below. Traders use these indicators to spot market patterns and possible price changes. Their foundation is the idea of creating a channel that shows the upper and lower bounds of the trading range by drawing parallel lines around the price movement. To improve your chances of making winning trades, the “Channels” category contains a variety of indicators, such as Bollinger Bands, Keltner Channels, and Donchian Channels.