Description

A colored channel indicator Price Channel to be drawn on the main chart of a financial symbol.

It can color bullish and bearish moods based on the middle line of the indicator, as well as change the color of the upper and lower lines of the channel.

Purpose

The indicator can be used for manual or automated trading in an Expert Advisor. Values of indicator buffer of the double type can be used for automated trading: 

1. The middle line of the indicator - buffer 4.
2. The upper line of the indicator - buffer 0.
3. The lower line of the indicator - buffer 1.
4. The bullish mood of the middle line - buffer 2, must not be equal to zero.
5. The bullish mood of the middle line - buffer 3, must not be equal to zero.

For a more in-depth analysis the indicator can be used in combination with the Channel Global Multicurrency indicator of the secondary chart.

Inputs

1. Channel_Period - the indicator calculation period.