The Channel Token indicator automatically builds a channel for tracking the trend movement.
The price is in its trend movement in a certain range, and not a chaotic price spread in an unclear direction. And if the price deviates in a certain range, it means that the boundaries of these ranges are support and resistance lines and form the Channel Token channel.
Channel Token is an indicator in which the indicator period is automatically calculated based on the number of bars of the current day.
It is no secret that the wave theory, like many others, is based on observations, but one of the most important regularities is the channel price movement. You may ask how this pattern manifests itself? I think it’s no secret for you that the price almost never moves only up or down. Whatever chart you open, you will always see various pullbacks and tortuous charts. The thing is that according to many theories, the price always tends to balance after strong fluctuations in different directions. During these fluctuations, the channels that are so often used by technical analysis are obtained. Channel Token is a forex indicator that is designed to create a channel to accompany the trend.