A channel is the area between two parallel trendlines – upper trendline (resistance line), and, the lower trend line (support line).
What is a trendline? It’s a line drawn over pivot highs or under pivot lows to show the prevailing direction of price.
Upper trendline (resistance line) is drawn by connecting price highs, and, the lower trendline (support line) is drawn by connecting price lows.
What is a trendline? It’s a line drawn over pivot highs or under pivot lows to show the prevailing direction of price.
Upper trendline (resistance line) is drawn by connecting price highs, and, the lower trendline (support line) is drawn by connecting price lows.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.