INVITE-ONLY SCRIPT
Price Action Channels
Updated
Price action channels are a great advantage as they provide insight to institutional ways of trading. Generally, they are based on a moving average of the price high and price low.
To elaborate, if price breaks above the channel and remains above channel after candle close it is considered a bullish signal. Conversely, if price breaks below channel and remains below channel after candle close, it is considered bearish. If within / inside the channel one stays out of the market and you may realize this is also when price is consolidating or may be ranging.
The application herein is based on 3Dimensional charting for specific time frames that will let you know whether in other time frames price action is above or below those channels. This is an advantage as it may let you stay in your trade or exit depending on your money management. When applying 3D one has a clear indication of where price stands and also allows you to stack on your probabilities in a trade.
This indicator also contains the fast guppy if you decide to apply them to your chart which creates an additional advantage.
Money management is trader's choice.
To elaborate, if price breaks above the channel and remains above channel after candle close it is considered a bullish signal. Conversely, if price breaks below channel and remains below channel after candle close, it is considered bearish. If within / inside the channel one stays out of the market and you may realize this is also when price is consolidating or may be ranging.
The application herein is based on 3Dimensional charting for specific time frames that will let you know whether in other time frames price action is above or below those channels. This is an advantage as it may let you stay in your trade or exit depending on your money management. When applying 3D one has a clear indication of where price stands and also allows you to stack on your probabilities in a trade.
This indicator also contains the fast guppy if you decide to apply them to your chart which creates an additional advantage.
Money management is trader's choice.
Release Notes
Price action channels are a great advantage as they provide insight to institutional ways of trading. Generally, they are based on a moving average of the price high and price low.To elaborate, if price breaks above the channel and remains above channel after candle close it is considered a bullish signal. Conversely, if price breaks below channel and remains below channel after candle close, it is considered bearish . If within / inside the channel one stays out of the market and you may realize this is also when price is consolidating or may be ranging.
The application herein is based on 3Dimensional charting for specific time frames that will let you know whether in other time frames price action is above or below those channels. This is an advantage as it may let you stay in your trade or exit depending on your money management. When applying 3D one has a clear indication of where price stands and also allows you to stack on your probabilities in a trade.
This indicator also contains the fast guppy if you decide to apply them to your chart which creates an additional advantage.
Money management is trader's choice.
Invite-only script
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