Regression Channel Alternative MTF V2
█ OVERVIEW
This indicator is a predecessor to Regression Channel Alternative MTF, which is coded based on latest update of type, object and method.
█ IMPORTANT NOTES
█ INSPIRATIONS
█ CREDITS
█ TIMEFRAME EXPLAINED
█ FEATURES
█ EXAMPLE OF USAGE / EXPLAINATION
This indicator is a predecessor to Regression Channel Alternative MTF, which is coded based on latest update of type, object and method.
█ IMPORTANT NOTES
- This indicator is NOT true Multi Timeframe (MTF) but considered as Alternative MTF which calculate 100 bars for Primary MTF, can be refer from provided line helper.
- The timeframe scenarios are defined based on Position, Swing and Intraday Trader.
- Suppported Timeframe : W, D, 60, 15, 5 and 1.
- Channel drawn based on regression calculation.
- Angle channel is NOT supported.
█ INSPIRATIONS
- These timeframe scenarios are defined based on Harmonic Trading : Volume Three written by Scott M Carney.
- By applying channel on each timeframe, MW or ABCD patterns can be easily identified manually.
- This can also be applied on other chart patterns.
█ CREDITS
- Scott M Carney, Harmonic Trading : Volume Three (Reaction vs. Reversal)
█ TIMEFRAME EXPLAINED
- Higher / Distal : The (next) longer or larger comparative timeframe after primary pattern has been identified.
- Primary / Clear : Timeframe that possess the clearest pattern structure.
- Lower / Proximate : The (next) shorter timeframe after primary pattern has been identified.
- Lowest : Check primary timeframe as main reference.
█ FEATURES
- Color is determined by trend or timeframe.
- Some color is depends on chart contrast color.
- Color is determined by trend or timeframe.
█ EXAMPLE OF USAGE / EXPLAINATION