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Channel Trend Indicator

Channel Trend Indicator as it is already clear from the title draws on a chart trending support and resistance lines. At the current time frame are drawn not only feeds the current period, but the older channels periods. Each channel has different periods of its color, and not to get lost in them, one of the lines constructed by the dashed channel.
Also on the schedule there is a vertical orange line, it is necessary to enable the user to specify the expected, the last candle (bar) for the calculation. In other words, it looks like this: You move that line to one or another candle (bar) and the indicator looks and build canals, just before the very same candles (included), and all subsequent candles per channel lines are not involved, this feature helps to view the work indicator on the history and plans for future trade.

Indicator parameters:

FirstBar - number of the last bar in the construction of the channel lines;
DeltaBar - the number of bars to calculate the channel;
InsLine - the mapping of additional support and resistance lines.
Description of parameters:

more than the value of " Deltabar "all the more important indicator of the channel constructs and channels shorter period just not displayed.

The use of trade:

The first indicator should be used to develop the trading system based on trading in a channel or a breakdown of the channel. But before you start to use the indicator to view the history or practice must first understand the parameters of the indicator. These parameters will depend on your personality and trading style.

The most important parameter for the settings in this case would be " Deltabar ", because that's what it helps to draw only the channels that you need. For example, for a short-term trading within the day should be set a parameter as small as possible, therefore, for more long-term trade should be set larger.

Trade within the channel can be very profitable, especially if you use the channel longer period, since these channels have more power and bounce or line break of the channel, gives a more accurate signal to enter into a transaction with little risk, but with the more focused on profit, which makes trading more profitable. Just to build a profitable position, you can use channel breakout shorter period in the same direction, which is open your current deal.
Download Channel Trend Indicator


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