True channel indicator builds the linear regression channel. The channel consists of the support/resistance line rays, as well as the averaging trend line.
Extra info displayed by the indicator
- support/resistance price for the current bar
- channel width
- channel slope
- current price position relative to the channel in %
Options
- Bars for calculation – number of bars for building the channel
- Price for calculation – price used for the channel borders construction (Close, High/Low and Open).
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