Auto Parallel Channels

[adriantran]

Hello,

Are there any indicators that automatically draw parallel channels based on candle price action? I've found auto trendlines and similar things to that on this forum and tradingview but I haven't found any auto parallel channels.

I attached an example that is manually drawn. These channels and breaks of channels give strong clues about where price is going to next. They are useful for intraday traders and scalpers.

Please let me know your thoughts or if there is any set of code that is close to this so I can start building on it.


Thank you!

 

[halcyonguy]

Hello,

Are there any indicators that automatically draw parallel channels based on candle price action? I've found auto trendlines and similar things to that on this forum and tradingview but I haven't found any auto parallel channels.

I attached an example that is manually drawn. These channels and breaks of channels give strong clues about where price is going to next. They are useful for intraday traders and scalpers.

Please let me know your thoughts or if there is any set of code that is close to this so I can start building on it.


Thank you!

maybe searching for linear regression will find something close to what you are looking for?
here is one
https://usethinkscript.com/threads/linear-regression-plot-dependent-on-condition.16025/#post-137758

 

[adriantran]

maybe searching for linear regression will find something close to what you are looking for?
here is one
https://usethinkscript.com/threads/linear-regression-plot-dependent-on-condition.16025/#post-137758

This is helpful (and may be useful as another layer in this trading method). Thank you!