Extreme-Price Channels with Adjustable Historical Level Length

Summary

This indicator displays channel borders based on prior extreme prices. Its single adjustable setting controls how long the previous channel high and low remain visible, allowing the user to compare different display lengths on a chart.

The document illustrates settings from one through five bars, with five identified as the default. It does not explain how the channel boundaries are calculated, how to interpret a break or touch, or how the indicator might support entries and exits. No performance evidence or trading rules are provided, so it is best understood as a charting aid rather than a complete strategy.

Key ideas

• The indicator shows channel borders derived from previous extreme prices.
• Its only parameter sets how long the prior high and low borders are displayed.
• The examples vary the level length from one to five, with five as the default.
• The document gives no entry rules or evidence of trading performance.

Tags

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