PriceChannel

• PriceChannel is designed for trend detection without the effect of accidental price leaps.
• It uses Price Series and a few moving averages for noise reduction.
• It works on multiple timeframes, even M1.
• To increase effectiveness, it is recommended to use 3 instances of PriceChannel with different parameters on one chart (see screenshots).
• You can use the following settings (for M1 charts):

1. PriceChannel(10,2,30) Gold colour.
2. PriceChannel(10,5,30) Blue colour.
3. PriceChannel(21,8,13) Gray colour.

• Example of using this indicator: If Gold cross to Blue down and both gold and blue under the Gray, it could be a promising sell signal.

Input Parameters

• Period: lookback period, default is 10.
• xfast: fast MA, default is 2.
• xslow: slow MA, default is 30.