This indicator builds curvelinear redrawing channel for each point of time. Therefore, it is meaningless to observe this channel's behaviour in history.
At the moment when the bars were located near the current one, the channel looked completely different than some time later!
This indicator was implemented in MQL4 and published in CodeBase at mql4.com 29.01.2008.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/779
The trend indicator that gives signals for performing deals. The indicator color depends on the market movement direction determined by the indicator position relative to the zero line.FP channel
The channel is based on the prices extreme values for a period. Central line, upper and lower channel borders values are determined by calculation of the Pivot Points used as assumed support and resistance levels.