Drawing a High-Low Channel for a Chosen Time Window

Summary

This short indicator example tracks the highest high and lowest low during a user-defined time interval, then displays those values as the upper and lower edges of a channel. It resets the running extremes when the selected interval begins and updates them as new bars arrive within the window. Traders can use the resulting levels to inspect a session or other chosen period’s range.

The document provides no trading rules, backtest, performance evidence, or guidance on choosing the interval. The indicator only marks observed extremes; it does not establish whether a breakout, reversal, or other response at either boundary is likely. Its usefulness therefore depends on the trader’s own context and validation. The remaining material concerns account data and privacy and does not add trading guidance.

Key ideas

• The indicator tracks the highest high and lowest low within a selected time window.
• It resets its running values when the window starts and updates them while the window remains active.
• The two recorded extremes form the boundaries of a range channel.
• The document offers no tested entry rules or evidence that trading those boundaries is profitable.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.