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True Channel

True channel indicator builds the linear regression channel. The channel consists of the support/resistance line rays, as well as the averaging trend line.


Extra info displayed by the indicator

  • support/resistance price for the current bar
  • channel width
  • channel slope
  • current price position relative to the channel in %


Options

  • Bars for calculation - number of bars for building the channel
  • Price for calculation - price used for the channel borders construction (Close, High/Low and Open).


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