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Indicators: Position in channel

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Automated-Trading
Admin
99101
Automated-Trading 2010.09.24 13:23 

Position in channel:

The indicator shows the position of the current price in a channel.

First it determines the channel boundaries. The upper boundary is defined as the maximal value of High[], the lower boundary is determined from the minimal values of Low[]. If the current value of Close[0] is located in the middle of the channel, its value is equal to 0. The price position is determined relative to the upper (from 0 to 10) and lower (from 0 to -10) channel boundaries.

Author: victorg

Position in channel

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