Current script displays trend channel, which makes it easy to see reversal signals
Note:
- If price goes above the channel it might be an early sell signal
- If price falls from channel it might be a sell signal, better to enter position on retest
Plan for future development:
- Alerts
- Trend angle
Hi traders,
I have coded this "Auto Trend Channel" script to help myself to draw a perfect trend. I usually use "Open / Close" as source. Play around with the "Lookback" period to find the best fit. Hope you enjoy it.
Note: This indicator repaints as highs and lows changed.
Remember to follow me and drop some comments below.
Disclaimer: This is not...