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Three Channel

The Price Channel pattern trading strategy is one of the smartest ways to make money trading.

The Price Channel pattern represents two trend lines positioned above (channel resistance) and below (channel support) the price. The price action is contained between these two parallel trendlines.

The separation between the two trendlines needs to be wide enough if you want to trade inside the Price Channel Pattern. If this is the case, you can buy at the channel support level and sell at the channel resistance level.

We can distinguish two types of Price Channel Patterns:

  • Upward Price Channel
  • Downward Price Channel
  • Sideways Price Channel

An Upward Price channel pattern occurs when the price makes a series of higher highs followed by a series of higher lows. The price should be contained within the support and resistance lines.

An Downward Price channel pattern occurs when the price makes a series of lower lows followed by a series of lower highs. Typically the price should be contained inside the lines that connect these highs and lows.

The sideways Price Channel Pattern can be defined by two horizontal lines as opposed to using trendlines.


1218384201
89
1218384201 2020.05.03 00:39 
 

Excellent

sunnychow
8576
sunnychow 2020.05.01 10:31 
 

User didn't leave any comment to the rating

Natasha Diedericks
2483
Natasha Diedericks 2020.04.27 10:56 
 

This is excellent! Thanks to the author! Would be perfect if the signals could be disabled or signals statistics panel could be hidden. I only need the channels!

Update: Thanks to the author for the new version! :-)

Martin Brown
237
Martin Brown 2020.04.22 16:27 
 

Great tool. Would be better without signals. Takes up too much screen space. All we need are the channels. And the channels work fantastically.

**UPDATE** You've made excellent changes to improve your indicator. Thanks for listening to the users ;)

Aravind
6010
Aravind 2020.04.18 16:52 
 

Good idea and indicator

niloufar mohamadi
2260
niloufar mohamadi 2020.04.16 14:29 
 

Very Good Indicator

Version 3.0 2020.05.18
Add number of bars for fractals in a period
Version 2.9 2020.05.18
Add alert for any Channel
Version 2.7 2020.05.15
zoom title and alert
Version 2.6 2020.05.10
change 2 & 3 channel
Version 2.5 2020.05.09
zoom option
Version 2.4 2020.05.06
update channel
Version 2.2 2020.05.04

The color of the channels
Version 2.1 2020.05.03
add sound alert
Version 2.0 2020.05.02
Add Alert Options
Version 1.2 2020.04.27
Change Display options