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PriceChannel

  • PriceChannel is designed for trend detection without the effect of accidental price leaps.
  • It uses Price Series and a few moving averages for noise reduction.
  • It works on multiple timeframes, even M1.
  • To increase effectiveness, it is recommended to use 3 instances of PriceChannel with different parameters on one chart (see screenshots).
  • You can use the following settings (for M1 charts):
    1. PriceChannel(10,2,30) Gold colour.
    2. PriceChannel(10,5,30) Blue colour.
    3. PriceChannel(21,8,13) Gray colour.
  • Example of using this indicator: If Gold cross to Blue down and both gold and blue under the Gray, it could be a promising sell signal.


Input Parameters

  • Period: lookback period, default is 10.
  • xfast: fast MA, default is 2.
  • xslow: slow MA, default is 30.
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Version 1.30 2018.09.19
three different parameters combined in one indicator.