Indicator for constructing a trend channel.

The next script continues the series of indicators for building a price channel , and it not only builds channels, but also determines their direction.

The tool provides the ability to smoothly adjust the scale of displayed trend channels without using the capabilities of the trading terminal.

Overall, this is a fairly convenient, easy-to-set up script that even a novice trader can use.

Download the indicator for constructing a trend channel.

After downloading, we unpack and copy it to the folder with indicators, find the script in the trading terminal and proceed to launch and setup. Moreover, you can first add an indicator to the chart, and then edit all the settings at your discretion.

Setup.

• Display – here you choose which time frames the lines will be drawn on; it is advisable to select no more than two or three time periods, so as not to get confused with unnecessary lines.

• FirstBar – from what point to start building, the default value is 1, but you can change this indicator upward, recommended for trading on short time frames .

• DeltaBar – the time of the first time period, when trading on M1, it is recommended to reduce it to 1.

• InsLine – enable or disable the additional line.

In addition, you will see two inscriptions in the upper right corner of the screen - Dowh and Up, they show the current direction of the trend. And by moving the orange line with the date, you can change the visual display of trend channels.