In the terminal there are several line studies for conducting a
technical analysis of the market. They are described in Channels.
We would like to know which of them are deemed to be the most useful by
Please vote, even if you do not use the line studies in trading
but believe that they provide an objective evaluation of the current situation
on the market.
My preference is for Linear Regression Channel.
Based on my experience: Equidistant Channel is effective but you need to understand that most meaningful levels to mark on your charts are the result of collision of several technical factors included the swift momentum due fundamental factors on the same levels (not right to the pips)
Technical analysis work as a self fulfilling prophecy most of the time (while other times even if you have a great technical analysis outlook it can be totally meaningles to the price dynamics and remain just a sort of graphic art in those cases) but the experienced traders is capable to increase the odds that a trade will work in his/her favour thanks to the global understanding of the market dynamics, not only one or two elements in your favor. This global understanding is especially required when you are conducting a serious business plan with large capitals.
Short answer: support/resistance levels created by the price itself.
Andrew's Pitchfork is a techinque based on price itself so it can be very effective for the Pitchfork expert.
Indicators like Linear regression channels, Bollinger bands or Standard Deviations Channels and others are just a rough indication based on the past, of course this doesn't mean that indicators can't be used succesfully.
Hope this help.