Channel shows highest and lowest prices for X number of bars.
High-Low identifies when price made new Highs and Lows
Applying Channel on High-Low channel, we are plotting highest and lowest formed in X bars.
In this indicator, we have 3 options for Channel Base:
- Price : This is regular channel based on High-Low Price
- Pivots : This is channel based on .
- Combined : Combines both. Takes highest of Price and for plotting high, lowest of Price and for plotting low
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
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