ChannelKing is an intelligent channel identification indicator. According to the high and low points formed by price fluctuations, combined with linear regression algorithm to get the approximate range of market fluctuations, it can give traders a good help in trend judgment and search for advantageous positions.
1. The index uses linear regression to calculate the trend line, which is more relevant than the ordinary high and low point line drawing trend line.
2. The index will screen out more reasonable channels by linear regression, instead of fixed-period channels, so that it can adapt to the cyclical changes of the market and give the price movement channel that is most suitable for the current market.
3. When the new channel is formed in the channel, the line of the old channel is still retained, and the subtle changes of the market can be kept at any time.
Channel_Period - The channel period (20-200). If the value is input, the channel period will not change, and no intelligent judgment will be made. If it is 0, it will automatically judge intelligently.