![]() ![]() The study also keeps track of recent PRIOR highs and lows. ![]() I call it a price channel, because that is how it looks. I think this study has aspects of that perspective. It often means that I miss out on some profit, but it also means that I'm constantly locking in profit, and often am able to get back in at a fairly good, if not better price. Personally, I find this practice suits me, and works well for me. The code comments explain the signals shown on the chart and what they mean, and how they were derived.Ī core principle of how I trade is to take profit whenever a good opportunity presents itself. The basis of this study is very simple, it's the highest high or lowest low of the last 10 bars, BUT starting from 3 bars back. If anyone has observations or suggestions about how to trade this study, feel free to post a follow up. If anyone wants to modify the study, feel free to do so. If anyone has any suggestions, or wants some modifications, let me know. If someone wants to translate it into another language, please feel free to do so. I think it helps give some perspective to what the price is doing.
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