Channels

Overview

The channels indicator finds two lines such that the price series lies between the lines and the lines are optimally close to the price series. The two lines represent bounds on the price series. Each line has its own slope. If the slopes are diverging, it represents a trend that is breaking down. If the slopes are converging, the price trend is converging to a given rate. If the slopes are nearly the same, the trend is solid and well defined.

Calculation

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