G channel is a channel indicator with 3 lines- a middle line representing a central tendency and 2 Upper and Lower boundaries calculated based on the past values of same indicator. Its based on the paper "Recursive Bands - A New Indicator For Technical Analysis" by Alex Grover and is a code conversion from TradingView. The channel breakout of Upper or Lower boundaries represent a new trend or trend continuation while narrowing of bands represents ranging or low volatility conditions. The channel can prove to be a good indicator of a trend direction and also a guide for trailing of stop loss. It has only 2 variables. Channel period - default set to 100. Price type.
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