- September 9, 2013
- Posted by: Forex Wiki Team
- Category: FX Ind
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Author: | MVV (2008.06.16 10:19) | |||
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The standard linear regression channel and support/resistance levels. If you anchor the beginning of a channel to the price maximum, the channel will be redrawn at each new price minimum. If the minimum is not refreshed within five bars, the indicator will draw a price label that will represent a strong support level after the channel has been broken through. Vice versa, for an up-channel.
The first picture shows channel anchoring, the second one shows price level processing. |