The Price Channels(PC) typically plot the highest high and the lowest low for the period specified (excluding the current period’s data).
They define the range of price action over a given period. New highs or lows may be interpreted as a breakout from the recent trading range.
Calculation:
HighestHighinPeriod = The highest High value in the selected period
LowestLowinPeriod = The lowest Low value in the selected period.
Inputs:
Period = 14
Indicates time period(the number of days for daily analysis, the number of weeks for weekly analysis, etc.).
Indicator Type: Support and Resistance
See Also