Fibonacci Channel represents a sort of Fibonacci Retracement, but this time all trend lines are drawn diagonally and not horizontally. Drawn channels can serve as supportive or resistance lines.
Fibonacci Channel is built with a common method: the line is put through trend's High and Low, this line composes entire width of channel and its value is taken as equal to one. Further, parallel lines are drawn through obtained channels through the levels 23,6%, 38,2%, 50%, 61,8%, 76,4%, 100%, 161,8%, 261,8%, 423,6%. It is assumed that resulting lines can serve as support or resistance lines as well as pivot or correction points of a trend.
Standard Deviation Channel represents a row of deviation lines put from Linear Regression Trendline. On chart this channel is drawn as two lines parallel to Linear Regression Trendline. Channel's width, that is to say, the distance between lines, is calculated according to root-mean-square deviation of close prices from Trend.
Fibonacci Channel represents a sort of Fibonacci Retracement, but this time all trend lines are drawn diagonally and not horizontally. Drawn channels can serve as supportive or resistance lines.
Fibonacci Channel is built with a common method: the line is put through trend's High and Low, this line composes entire width of channel and its value is taken as equal to one. Further, parallel lines are drawn through obtained channels through the levels 23,6%, 38,2%, 50%, 61,8%, 76,4%, 100%, 161,8%, 261,8%, 423,6%. It is assumed that resulting lines can serve as support or resistance lines as well as pivot or correction points of a trend.
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