Automatic Linear Price Channels Across Timeframes
Summary
The document describes a chart indicator that detects and draws linear price channels across available timeframes. It analyzes a configurable number of bars, with controls for the starting bar, channel width, modeling accuracy, filtering, and minimum or maximum channel width. A user can also reposition the channel by holding Ctrl and clicking on the chart. The indicator can account for price extremes or place boundaries evenly around a central axis, and can draw channels as rays or finite segments.
The method is presented through settings and usage notes rather than a trading rule or empirical study. It requires sufficient price history for each timeframe; the default analysis window is 400 bars, and the document says the indicator may initially report missing history. Greater modeling accuracy slows the indicator, while the width factor affects whether the channel passes through extremes. No backtest, definition of the channel-fitting objective, or evidence of predictive value is provided, so the channel should be treated as a visualization tool rather than a validated signal.
Key ideas
- The indicator fits linear price channels using historical bars from multiple timeframes.
- Users can adjust the lookback, channel width, filtering, and modeling accuracy.
- Higher modeling accuracy increases computation time.
- Channel boundaries can account for extremes or sit evenly around a central axis.
- The indicator needs sufficient historical data and provides no evidence that its channels predict future prices.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.