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Bermaui Channel

This is a price channel that shows five important price levels on the chart. Those levels are:

  1. The Highest High (HH) of the previous x bars.
  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

Think of the distance between HH and HL levels as an overbought area.

When the price candles or bars crosses the HL to the upside it indicates this indicate that prices are getting inside its overbought area.

When the price candles or bars crosses the HL to the downside this indicate that prices are getting outside its overbought area.

When the price candles cross the HH it creates a new high. This might indicate the beginning of a new uptrend that continue in progress until prices reverse its direction back again to the downside.

How does Bermaui Channels Captures Oversold area

Think of the distance between LL and LH levels as an oversold area.

When the price candles or bars crosses the LH to the downside this indicate that prices are getting inside its oversold area.

When the price candles or bars crosses the LH to the upside it indicates this indicate that prices are getting outside its oversold area.

When the price candles cross the LL it creates a new low. This might indicate the beginning of a new downtrend that continue in progress until prices reverse its direction back again to the upside.

Bermaui Channel Features

  • Bermaui Channel does not repaint or recalculate its results.
  • It works on cryptocurrencies, stock, index, oil, gold, and on all time frames.
  • Sound, email alerts and Mobile Notification.
  • Buy, sell arrows to help identifying trend signals.
  • Well-designed parameters to help user easily navigate between them.
  • Buffer to build your own expert advisors.
  • Two different color lists to choose from.
  • The ability to draw overbought & oversold as price candles or bars.

Bermaui Channel Parameters

Candles. number of candles used in BD% calculations (Minimum is 2).
Shift. Number of bars to backward shift. Default is one.
Sound Alert: Default is true.
Send Email: Default is false.
Send Notification: 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. Default is true.
Price Label Width. Default is one.
Show OB/OS as: 1. Bars| 2. Candles| 3. Hide
Overbought Area Color. Default is Teal.
Oversold Area Color. Default is Tomato.
Bullish Candles Color. Default is Green.
Bearish Candles Color. Default is Red.
Candle Wicks Width. Default is one.
Candle Body Width. Default is four.
Bars Width. Default is three.

I hope that Bermaui Channels help you at your trading. Please, contact me if you have any questions. I wish you good trading.

Best regards
Muhammad Al Bermaui, CMT


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