The indicator displays the high and low of a channel for a possible price action breakout.
Also, it displays the distance in points inside a channel's range.
- If the price is above the blue channel line, there is a possible breakout to the upside. Price might continue to trend up.
- If the price is below the pink channel line, there is a possible breakdown to the downside. Price might continue to trend down.
- #0: Default setting for the upper channel line is PowerBlue color
- #1: Default setting for the lower channel line is Pink color
Take a look at the screenshot to see for yourself.