But, instead of traditional high lows, this is based on created from .
This indicator is created on top of existing using lines array:
Parameter HighLowLength refers to number of lines back which can be used to calculate top and bottom of channel.
Difference it makes is as shown in the picture below:
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In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.