Hello Jusco, I happen to have MetaStock Pro v 7.2 which will links with MetaTrader, however I don't recommend it per se, certainly not just to obtain the channel tool. Once MetaTrader v4 is online with
fx brokers, it'll provide all the tools most traders want including the Standard Error Channel I favor in MS.
The attached chart may give you some idea of using the fibo tool and the Pitchfork tool in MetaTrader.
I use the channel tool in MS in preference to the P tool as it's simpler to use, tho the P can be used on bars when the Channel tool just won't produce a channel.
When using the P, experiment and learn the differences applying the 3 points on the Close of bars v using the Highs and Lows, and try combinations of H/L/C.
As you may agree, the P works extremely well, so bottom line, why bother with another program when MetaTrader does the job.
The main method to remember is KIST — Keep It Simple Trading.