This is an example of regression channel with harmonic pattern.
By using Simple OHLC Custom Range Interactive, we able make confluence point (blue) to get Point X of Bullish Butterfly.
There are many confluence points (orange flag and teal table), which shows Point D of Butterfly starting to complete.
For Point D, best to monitor price changes using RSI or other...
This is an example of Channel Up and M Pattern (Bullish Bat).
Found that M Pattern (Bullish Bat) within Channel Up.
Pattern already touches PRZ (orange) and completed TP1 and TP2 (lime).
Indicator used :
1. Regression Channel Alternative MTF
2. HH-LL ZZ
3. XABCD Harmonic Pattern Custom Range Interactive
Linear Regression Channels are a great way to identify potential key levels of future price action by graphing the normal distribution of a trend.
When using the Regression Trend tool (located in the drawing panel under the “Trend Line Tools” group) two points on a trend are chosen, generally at the beginning of the trend and the end of the trend.
When the...
I have added in another regression trend channel going back to the late 2016 high. That longer-term channel shows the potential upside target for a breakout above the medium-term channel if that were to occur.
At this particular juncture, the medium and short-term channels are the ones in play, with a potential or bounce or break of the short-term channel on the...
Currency charts (or any chart) can look rather chaotic sometimes.
Grabbing a regression trend tool may help. You select the tool and the pick the two points...usually a major high and low.
The regression tool then finds the line of best fit through the data. You can also add standard deviations above and below the regression line, resulting in a channel.
The...
