It's an open secret that according to the statistics a price spends most of the time in a channel.

That is why strategies, which operate on a principle of the price bounces from the channel borders, are the most attractive.

The channel indicator allows to trade using precisely these methods. It will be a good foundation for or a supplement to your channel strategy.

One way to use indicator lines is shown in the screenshot.

Settings

• Channel_Period = 34; - channel period
• Channel_Width = 1.618; - channel width ratio

Wish you successful and stable trading!