Channel Breakout LE: Difference between revisions
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The Channel BreakOut creates a channel with its bands based on the highest and lowest values for the specified channel length (the value of the “Length” input). | The Channel BreakOut creates a channel with its bands based on the highest and lowest values for the specified channel length (the value of the “Length” input). | ||
<div style="background-color: #E3FBE5;">A '''breakout''' is a special price pattern when the price is moving outside a defined support or resistance level with increased volume. </div> | <div style="background-color: #E3FBE5;">A '''breakout''' is a special price pattern when the price is moving outside a defined support or resistance level with increased volume. </div> | ||
Channel BreakOut LE enters long if the high of the current bar is higher than the upper channel band of the previous bar. <br> | Channel BreakOut LE enters long if the high of the current bar is higher than the upper channel band of the previous bar. <br> | ||
This signal attempts to create trades based on whether a symbol breaks out from a channel or not. The channel is dependent on the length, which is chosen in the signal settings. | This signal attempts to create trades based on whether a symbol breaks out from a channel or not. The channel is dependent on the length, which is chosen in the signal settings. | ||
