Preferably use it on 30 min or 15 min or 1 Hour or 2H time frames .
Exiting outside the upper or lower channel limits represents high price , and returning inside the channel means the possibility of the price rising or falling for the average or the other limit of the channel.
Channel lines may represent places of .
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.