Channel Breakout SE
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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 SE enters short if the low of the current bar is lower than the lower 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 LE signal.
Default Inputs
Price sets the price value to be used for calculations.
Length sets the number of previous bars for HighestFC value calculation.
