Equidistant Price Channel Indicator

Equidistant Price Channel Indicator for MT4

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 by Magister

ℹī¸ How to Spot Price Trend with Price Channel
Hello fellow analysts and traders. We're glad to meet you again. To continue our previous lesson, now we're going to discuss about price channel, another technical analysis to spot price trend. Basically, it's similar like having two lines on your chart. One line is called trend line and the other line is put on a distance but parallel with the first one, called channel line.

Both lines have their own significance. We touch on each of them in details on another trading tip. Now let's heed on how to draw and use it properly for identifying price trend. As seen on picture above, the very first thing you need to find out is two significant points, they can be bottoms or tops, for drawing a trend line and one, preferably two, significant points for composing a channel line.

When you see two significant points, you should draw a line connecting those points to make a trend line, after that draw a parallel line, and then you have a channel line.

Practice makes perfect. So spend your time to practice drawing proper price channel then you will see that you can spot price trend much better.