The ChannelTrend indicator is a trading system that allows you to analyze the market in terms of several aspects of technical analysis. The first of them is the price channel, which is built automatically and allows the trader to see the main direction of price movement. It also makes it possible to analyze the market using a channel strategy (breakout and rebound from the channel lines).

Block 2 is a SAR system that provides general information about micro-movements in the market and this is a confirmation signal for the arrows.

Block 3 is the main block, it displays the arrows by which you need to enter and exit trades. These signals are good because they do not lead to small movements, but immediately indicate a large and long trend.

It is very easy to enter trades using this indicator. If there is an up arrow and there are yellow circles under the chart, then we enter up. If there are purple circles and a down arrow, then enter down.

Parameters

  • period — the period when the arrows appear
  • showSar show Parabolic Sar or not
  • Steps-step for Parabolic SAR
  • Maximum — maximum for Parabolic SAR
  • NumBars the number of candles on which the indicator is calculated
  • channel_width channel width factor
  • CountBars number of candlesticks for calculating channels
  • Appliced_price the price type for calculating the indicator
  • SoundOn — sound alert
  • EmailAlert — sound alert
  • MobileAlert-sound alert
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The indicator does not redraw. If the arrow appears in a certain place, it remains there.


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