The APriceChannel indicator is a modification of the standard Price_Channel indicator.
There are 2 levels – the upper level shows the maximum price for a given period of time, the lower level shows the minimum price for the same period. In addition to the period, it allows you to set the vertical offset in price points, the channel will be expanded up and down by this amount. This prevents false breakouts of the current resistance/support levels.
- Period-Time period in bars – the number of bars for calculating the minimum / maximum price
- Offset up and down-Vertical offset in price points – channel expansion up and down
upper level = maximum (period) offset
lower level = minimum (period) – offset