Automatic channel is a channel indicator with automatic calculation of the channel height. The channel width is calculated so that around 92 percent of bars are inside the channel. Thus, extreme price overshoots are left outside of the channel.
Automatic channel does not repaint its readings.
The indicator has the following settings:
- Period – averaging period.
- Shift – shift of the indicator lines relative to the chart beginning.
- Amount of bars for calculation of channel – amount of bars for calculating the channel height.
- Now, the indicator does not repaint.
- Fixed the indicator shift.