Simple channel indicator. I have been using it for several years. Added alerts when reaching high and low of the channel. Excellent for traders using trend strategies.
Do not sell on highs or buy on lows right away. Check the higher timeframe and trade on the bounce.
- alertsON — enable alerts
- alertsMessage — display an alert
- alertsSound — alert sound
- Color_Region_Hi — color indicating exit from the channel on highs
- Color_Region_Lo — color indicating exit from the channel on lows