The future day channel

Currency pair: EURUSD.

Period: H1.

The future day channel indicator draws diagonal support and resistance lines for a future trading period of 24 hours. Thus, we obtain an estimated price channel. The calculation of diagonals is performed once per 24 hours. The lines are built based on history with the use of strict mathematical equations. Since local trend reversals happen at these lines, their use is necessary for finding market entry and exit points.

NOTE: The indicator works only on H1.

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