OnlyChannel - Trend and Channel Detector
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.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact only_fibonacci directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact only_fibonacci directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.