IREGR CHANNEL INDICATOR:
The iregr channel is another very complex indicator from Russia. Those guys are impressive. The iregr channel shows you the real trend, the expected swing width and gives you very good positions for entry as the price moves back and forth across the channel. The only problems occur when the channel is changing it's angle as the price pushes the channel up and down and away from the path it was on before. During that change you can get faked out by the moving channel.
The original version draws the channel over the last 250 bars. But because it redraws itself you can lose sight of how the channel behaved around new bars before they moved very far to the left. I've modified the code to allow you to scroll to the left - into the past. If you hit Menu->Charts->Refresh, the channel redraws itself and the right most bars on your screen become the latest bars. The channel looks the way it did when those bars first appeared in real time.
By scrolling back and forth and refreshing the screen, you get to see how the channel looked in the past near a group of bars where, for example, the price pushed outside the original channel. What you see later can be very different from the perfect history you see when the channel has passed by those bars and redrawn the channel based on later information.
The channel is very stable when the trend is not changing. At that time the price swings back and forth from one side to the other. Once the trend faulters, the angle will change and price bars that were once near the edge of the channel may become bars in the center of the redrawn channel.
The four colored lines on the right end of the channel are trend lines for three time frames plus the trend of the IREGR channel itself. The top line is one time frame greater than this chart, the next one down is the iregr trend, the third one down is the trend of this time frame, the bottom trend line is for the next lower time frame.
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