The JustinChannel5 indicator works based on the most popular and effective "price channel trading" strategy. The channel is constructed at local extreme points. The channel slope allows you to determine the current trend direction. It is also possible to trade channel breakthroughs and rebounds.
The indicator is easy-to-use and does not require any additional configuration. You only need to run it on a chart and select the color of the channel.
- Channel Color - the color of the price channel.