Gliding Channels Indicator for Drawing Barishpolz Moving Channels
Gliding Channels indicator finds price extremes and builds sliding channels on them according to the rules described by V. Barishpoltz.
Barishpolz channels are built by the last three extrema - the bottom line by two Low and parallel through the top, or vice versa, the top line by two High and parallel to the bottom. Note that channels are built by the shadows of candlesticks.
A price extremum is identified if there are at least two candles before and two candles after its passage. That is, the maximum requires at least two candles less than the maximum candle before, and at least two candles less than the maximum after. The distance between adjacent extrema is not limited.
There are "group extrema" - two or even three candlesticks with almost identical highs (lows). The Gliding Channels indicator identifies them as one extremum and draws a channel line through the top (bottom) of the right one.
Features of the Gliding Channels indicator
- Construction of the channel by the last three extrema (by top and bottom, by bottom and top);
- Search for extrema starting from a given candle;
- Plotting multiple channels on a graph;
- Messages when the price reaches the boundaries of the channel.
Gliding Channels indicator - An effective technical indicator that allows you to clearly monitor the micro-trends of the currency pair, allowing you to enter the market on time.
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