The Equidistant Price Channel Indicator is a popular and free Forex indicator for MT4. The indicator draws a channel on the chart by connecting two extreme points, which are determined by the highest high and lowest low of a given period. The indicator then plots a line in the middle of the channel, which is used to identify potential entry and exit points. The Equidistant Price Channel Indicator is a great tool for traders looking to take advantage of short-term price movements, as it is simple to use and provides reliable signals. The indicator can be used with any timeframe and any currency pair, making it a versatile and popular tool for traders.