Using Selectable OHLC Prices to Display a Two-Line Channel

Summary

The document describes a chart indicator that draws two lines to form a price channel. Each line can be configured to use one of four OHLC price series: open, high, low, or close. By plotting a pair of selected price series, the indicator provides a visual view of price movement that differs from viewing bars or candlesticks alone.

The description explains the display and its configurable inputs, but gives no trading rules for interpreting the channel, such as how to define breakouts or reversals. It also includes no performance evidence, backtest, or discussion of parameter selection. The indicator is therefore a visualization aid rather than a validated standalone strategy. Its practical meaning depends on which prices are chosen and how the channel is used in a broader analysis. The source is a translated description of code hosted on a trading platform; the page text does not provide enough detail to assess code behavior or execution implications.

Key ideas

• The indicator draws a channel from two configurable price series.
• Each line can be based on open, high, low, or close prices.
• The channel offers an alternative visual representation of price movement alongside bars or candles.
• The document does not define trading signals or report testing results.
• The indicator’s interpretation depends on the selected prices and the user’s analysis method.

Tags

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