The indicator detects price channels, reversal points and trend direction.
- All timeframes.
- No repainting.
- Channel borders are formed by support/resistance levels.
- Calculation is done on an active candle.
- If the red line is above the green one, a trend is bullish. If the red line is below the green one, a trend is bearish.
- After the price breaks through the green line, the indicator starts building a new channel.
- The indicator works well with the Forex_Fraus_M15.tpl template https://www.mql5.com/ru/blogs/post/703667(in Russian).
Features: When launched on a chart, the indicator starts working withouy a history. After re-opening the terminal, the calculation starts from the first candle. No settings are used.