The Chunnel is one of the most common ATR based trailing stop indicators.This set up created to understand support and resistance as per ATR ( Average True Range ) 。

In this version you can change the ATR calculation method from the settings.The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a superindicator are 10 for average true range or trading period and three for its multiplier.

The average true range (ATR) plays an important role in 'Chunnel' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility .

The buy and sell signals are generated when the indicator starts plotting either on top of the closing price or below the closing price. A buy signal is generated when the ‘Chunnel’ closes above the price and a sell signal is generated when it closes below the closing price.

It also suggests that the trend is shifting from descending mode to ascending mode. Contrary to this, when a ‘Chunnel’ closes above the price, it generates a sell signal as the colour of the indicator changes into red.

The indicator can be used on equities, futures or forex, or even crypto markets and also on daily, weekly and hourly charts as well, but generally, it fails in a sideways-moving market.

仅限作者授权的用户访问此脚本,并且通常需要付费。您可以将其添加到收藏中,但是只有在向作者请求并获得许可之后,才能使用它。 请与bitcoinvestors联系以获取更多信息,或按照以下作者的说明进行操作。





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