Active S/R Channel

3 日前

This indicator uses previous highs and lows based on a user defined lookback period to create high and low channels that are created as price actions moves up and down.
When a candle rejects the high or low channel a signal is created outside of the channel.
These should be viewed as potential pullbacks for re-entries or entries into a reversal.
These signals can then be used as an alert to look for a close above or below the user defined moving average to enter a buy or sell trade.
This is basically as close as you get to entering at pivot points.
I have given you the ability to enable and disable the channel while still retaining the rejection signals.