Moving channels Medvedev
The indicator generates of a symbol's price movement and can become a good assistant in a trader's day-to-day routine. The main features of the indicator lie in formation of six main channels, one adaptive channel and lines of price movement direction. It works on any financial instrument and time frame. We have four tops and four bottoms used for drawing six lines for formation of channels which can serve as guidemarks in the process of detecting the price movement direction and its reversal points. I'd like to mentions that the indicator is furnished with additional tools which help to better understand the current situation and make a forecast. These are Andrews’ Pitchfork and Bobokus Fibonacci levels. The first three extrema of the indicator have distinctive indications which ensure fast determination of the current situation. Besides, the indicator is furnished with strong informative support in the form of signal system which notifies about breakout of the first extremum level or its widening in the direction of the breakout. During uncertainty period the first and the second extrema can change over, and then they settle down and track the price movement. I would like to dwell on two more channels: an adaptive channel which appears immediately and levels of which are used for determining possible breakout levels, and a channel which appears between first two extrema, its convergence indicates continuation of the movement in the direction of the first extremum. An information panel indicating time of the last breakout and its widening can be seen on the screen. To move the panel to the desired spot, click the red button with the left mouse button and drag it to the desired place.
After enabling the notifications, you will receive the voice messages about the following events:
- Upward level breakthrough;
- Downward level breakthrough;
- Upward level extension;
- Level extension.
Default settings of the indicator are pretty informative. You can change then according to your needs.
- Main line channels - enabled by default, if disabled, auxiliary lines of channels will also be displayed;
- The display of the channel - this parameter enables display of each of six channels on the chart;
- The thickness of the channel lines - you can adjust the width of lines of each of six channels;
- Color channel lines - you can adjust the color of each of six channels;
- The adaptive channel - adaptive channel is enabled by default;
- Color lines adaptive channel - color of the adaptive channel lines;
- Enable (disable) pitchfork- Andrews' Pitchfork is enabled by default;
- Line thickness pitchfork - width of Andrews' Pitchfork lines;
- Color lines pitchfork - color of Andrews' Pitchfork lines;
- Lines Fibonacci levels Bobokus - Fibonacci Bobokus lines are enabled by default;
- Color lines Fibonacci Bobokus - color of Fibonacci Bobokus lines;
- Enable (disable) lines ZigZag - ZigZag lines are enabled by default;
- The information panel - information panel is enabled by default;
- Enable (disable) beeps - sound is enabled by default;
- Enable - animals (disable - speech) - speech is set by default; when enabled, animal sounds are used for messages.
To ensure effective operation using the indicator, you need to master position opening and closing on a demo account. You need to get acquainted with methods of doctor Andrews, who, through the grapevine, earned over 450 million dollars for Joseph Kennedy, Sr. during the crash of 1929, and keep a sharp lookout for Fibonacci Bobokus levels. Constructive suggestions and feedback are highly appreciated.