DEMOChannelWLevels

This indicator draws range channel (High-low) with 5 intermediate levels based on Fibonacci (38.2, 23.6, 50, 61.8).

It has the next inputs:

• periods: Number of bars used to calculate the channel.
• showupper: True/False ("True" to show the highest high price "False" to hide it).
• showlower: True/False ("True" to show the lowest low price "False" to hide it).
• showfirst: True/False ("True" to show 1st level price "False" to hide it).
• showsecond: True/False ("True" to show 2nd level price "False" to hide it).
• showthird: True/False ("True" to show 3rd level price "False" to hide it).
• showfourth: True/False ("True" to show 4th level price "False" to hide it).
• showfifth: True/False ("True" to show 5th level price "False" to hide it).
• ColorUpper: Color of the highest high price.
• pricewidthUpper: Size of the highest high price.
• ColorLower: Color of the lowest low price.
• pricewidthLower: Size of the lowest low price.
• ColorSecond: Color of 2nd level price.
• pricewidthSecond: Size of 2nd level price.
• ColorThird: Color of 3rd level price.
• pricewidthThird: Size of 3rd level price.
• ColorFourth: Color of 4th level price.
• pricewidthFourth: Size of 4th level price.
• ColorFifth: Color of 5th level price.
• pricewidthFifth: Size of 5th level price.
• ma: Moving average calculation mode (simple, exponential, smoothed, linear weighted).
• calculation: Calculation mode.
• Range: Channel calculated using the highest high and the lowest low.
• StDev: Channel calculated using standard deviation.

The lines are customizable (colours, style, width).

The above table shows the default settings that can be customized.

Note: This is a DEMO version that only works on AUDJPY charts. If you want the full version buy the product ChannelWlevels.

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