Channel Breakout LE
Jump to navigation
Jump to search
Definition
The Channel BreakOut creates a channel with its bands based on the highest and lowest values for the specified channel length (the value of the “Length” input).
A breakout is a special price pattern when the price is moving outside a defined support or resistance level with increased volume.
Channel BreakOut LE enters long if the high of the current bar is higher than the upper channel band of the previous bar. This signal attempts to create trades based on whether a symbol breaks out from a channel or not. The channel is dependent on the length, which is chosen in the signal settings. Check the related Channel Breakout SE signal.
Default Inputs
Price sets the price value to be used for calculations.
Length sets the number of previous bars for HighestFC value calculation.
