Introducing the Robust Channel indicator.
This indicator is based on a remarkable property of robust statistics , namely, the resistance to the presence of data points that deviate significantly from the established trend (generally speaking, outliers ). Being outlier-resistant, the Robust Channel indicator “remembers” a pre-existing trend and thus exhibits...
This indicator plots dynamic price channels based on the security highest close and lowest open.
The default is to display 8 core channels (with the option to plot the sub channel lines, off by default).
It’s simple really—this just divides the price action into equal channels. I’ve found this pattern helpful across all markets.
It’s dynamic because if a new...
![PENN: Robust Channel [tbiktag]](https://s3.tradingview.com/e/ebHg6bb0_mid.png "Robust Channel [tbiktag]")
