Parallel Channel

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APPLICATION

The parallel channel drawing tool is us primarily used to distinguish trends of price movement. The parallel channel tool has the ability to extend either to the right, left or both directions, if the user wants to continue the channel indefinitely.


HOW TO USE IN TRADINGVIEW

  1. Navigate to https://www.tradingview.com/
  2. On the landing page, enter a symbol and click "Launch Chart"
  3. Drawing Tools are located along the left hand side of the chart. Select the Drawing Tool that you would like to add to your chart.
  4. You can access the Formatting Window by right clicking on the Drawing Tools in the chart itself and selecting "Format".

ParellelChannelOptions.PNG

Line

Can change the color of the parallel channel as well as its thickness and line style.

Background

Can choose the channel's background color and opacity level.

Extend Left

Can choose to "Extend" the channel to the left. If it is extended, it will continue on the same path indefinitely, even when out of the current view of the chart.

Extend Right

Can choose to "Extend" the channel to the left. If it is extended, it will continue on the same path indefinitely, even when out of the current view of the chart.