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 %
- 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).