OnlyChannel - Trend and Channel Detector

23. Juni 2023

Hello Traders. :) I am Only Fibonacci.
This indicator I shared will create more meaningful channel lines for you. Suppositories were overused and logically manipulated.

What does it do?
In this script, both falling and ascending channels can be drawn on the hills. At the same time, both falling and rising channels can be drawn at the bottom levels.
When controlled simultaneously with momentum indicators, it helps us a lot in the mismatch detection phase.

Use
In the settings of this tool, you can enter sensitivity data about the detection of pivot points.
At the same time, you can write how many you want to appear for each kind of channel and how many channels you want to appear in the last few bars.

Highlights
You can enter the number of violations of the channel. In this way, even if the channel is broken 3 times, for example, it does not disappear. This number is up to you.
At the same time, you can continue to see the channel with the option of how many more bars this channel will appear after the channel violation rules are fulfilled. In this way, you can catch logical return points.


Visuality
You can adjust the color of each channel and the color of the line in the middle.

26. Juni 2023

Versionshinweise

An update to rising bottoms has been brought.

26. Juni 2023

Versionshinweise

Bug fixed.