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Adjustable Price Channel
The APriceChannel is a modification of the standard Price_Channel indicator.
It has 2 levels - the upper level shows the maximum price for the specified time interval, the lower level shows the minimum price for that period. In addition to period, it allows to set the vertical offset in price points, the channel will be expanded up and down by this value. This allows to prevent the false breakouts of the current support/resistance levels.
- Period - Time period in bars - the number of bars to calculate the minimum/maximum price
- Offset up and down - Vertical offset in price points - expansion of the channel up and down
upper level = maximum(period) + offset
The colors and styles of the level lines can be configured in the Colors tab of indicator properties.
lower level = minimum(period) - offset