A Fill Channel Indicator for Planning Entries, Stops, Targets, and Size
Summary
The Fill Channel is a chart indicator intended to help traders plan entries, stop losses, profit targets, and position size. It draws a regression-based central line with surrounding bands, then uses those levels to display potential long or short entry steps. Users can configure step spacing, the number of entries, size, and stop adjustments. Optional annotations show calculated loss and gains at two target levels.
The indicator also uses Heikin-Ashi-style candles to mark possible reversals after price crosses a channel boundary. Signals expire after a set number of bars or when price crosses a stop boundary. The document provides source code and describes the tool as a way to reduce emotional decision-making, but it presents no backtest, performance evidence, or validation. The calculations depend on user-supplied settings and platform conventions, and the displayed levels and signals should be treated as planning aids rather than evidence of a profitable strategy.
Key ideas
- The indicator plots a regression-derived center line and multiple surrounding price bands.
- Long and short modes can display staged entries, stop levels, and two profit targets.
- Optional labels calculate aggregate gains and losses for configured entry sizes.
- Heikin-Ashi-style candle changes trigger reversal markers after channel crossings.
- The document supplies no performance testing to establish whether the signals are profitable.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.