NB-channel indicator
NB-channel - visual trending indicator which dynamically builds Barishpolz's moving channels on the selected currency pair and timeframe.
When constructing NB-channel indicator finds two nearest fractals on the history and draws a line between them. On the opposite side, a parallel line is drawn on the extremum of the fractal. The line between the borders of the channel is the middle.
Comments Off on: Easy to use indicator, suitable for bounce strategies. Can be used separately for long term strategies. On low timeframes, it is desirable to have a confirmation of the signals.
If you look at the channel, you can see the crossing of the main channel line in any direction, i.e. the yellow line, you can apply a 3% filter or in a higher trait 2-day filter to prolong the channel for the resistance level (this is the main thing I remember) I am not a magician, I am just learning.
Question in mt4 can such a channel be built? how? because there is no central line
And where did you see the yellow line?
At the end of the article you can download the indicator just for MT4