This is a price channel that shows five important price levels on the chart. Those levels are:
2. The Highest Low (HL) of the previous x bars.
3. The Center Line.
4. The Lowest High (LH) of the previous x bars.
5. The Lowest Low (LL) of the previous x bars.
How does Bermaui Channels Captures Overbought area
How does Bermaui Channels Captures Oversold area
Bermaui Channel Features
Bermaui Channel Parameters
Candles. The number of candles used in BD% calculations (Minimum is 2).
Shift.The number of bars to backward shift. The default is one.
Sound Alert.The default is true.
Send Email.The default is false.
Send Notification.The default is false.
Colors List.You can choose between two color lists, or you can choose to (Do Nothing).
Show Price Label.At the edge of the channel. The default is true.
Price Label Width.The default is one.
Show OB/OS as:1. Bars| 2. Candles| 3. Hide
Overbought Area Color. The default is Teal.
Oversold Area Color.The default is Tomato.
Bullish Candles Color.The default is Green.
Bearish Candles Color.The default is Red.
Candle Wicks Width.The default is one.
Candle Body Width.The default is four.
Bars Width.The default is three.
Read this blog to know how to use the buffers in building your own expert advisor:
If you have any questions then please, contact me via a private message or, write them in the comment section.
Muhammad Al Bermaui, CMT