Use this channel to help control your emotional buying. You can follow the lead of the Mutual Funds & other Institutions. Institutions will buy between the MA and the upper band, but will slow or stop approaching the upper band. They will sell below the MA but not below the lower band. If ranging between the MA and the lower band they will start raising cash in anticipation of redemptions. Works best with a separate 50 SMA overlaying the centerline. This is a simple percentage offset envelope, not a Bollinger Band, Keltner Channel or Standard Deviation Channel.
Open-source script
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You can favorite it to use it on a chart.
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