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The principle of construction – on top of any number of bars set by
the user, a channel with the maximum and minimum lines is built so that the
bars touch the maximum and minimum of the channel at no more and no less than three
points. The name of the indicator follows from this principle.
Both vertical
lines can be moved on the chart by the user, thus setting the period
on which the channel is built.
After the specified period, the channel rays are drawn,
which specify the channel in which the price can move

In the picture, the ThreePointsChannel channel is built on top of the bars between two
vertical dotted lines. The three points on which the channel is built are
marked with red circles. In the period between two lines, the channel can be
redrawn. The indicator has a parameter that prohibits redrawing. The right
vertical dashed line shows the bar after which the channel is not
redrawn. The green circle marks the moment when the price was in the zone
“overbought”, the moment suitable for opening positions down. The blue circles
mark the “oversold” zone, the moment suitable for closing down positions.
Parallel lines inside the channel – channel levels. By default, the indicator takes the
distance between the two main lines of the channel for 100% and draws lines 23.6%
(dotted), 50% and 76.4% (dotted) inside the channel. The percentage that
the indicator uses to draw the channel is determined by the indicator parameter.

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Indicator Parameters:

Redrawallows redrawing of the channel in the
interval between two vertical lines, specified by the user.

Coeffdefines the
distance of the overbought and oversold channel as a percentage of the channel boundaries,
drawn with a dotted line.

Colorthe parameter sets the
color of all lines

InputBarsets the bar of
the right vertical line on which the indicator will be initialized

Length the distance
between the left and right vertical lines in bars.

The InputBar and Length parameters are responsible for the period at which
the channel is initialized. After initialization, the user can move both vertical lines to
adjust the period on which the channel is being built.

Version 1.1. – added the ability to calculate the angle of inclination of the channel

Version 1.2 – text of the cost of the angle moved to the beginning of the channel

Version 1.3 – added indicator buffer for angle value-indicator buffer with index 5, array index 0

In the test mode, moving vertical lines is not possible due to the built-in limitations of the MetaTrader platform


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