Description

• Channel Slope is the ratio of difference between previous 2 swing top (or bottom) values to the number of bars between current bar and bar at which penultimate swing top (or bottom) occurred

Interpretation

• When the channel is in uptrend, buy trade can be executed
• When the channel is in down-trend, sell trade can be executed

Default Parameters Used/Inputs

• High Line
• Low Line
• Reversal Pcnt
• Theoretical

Returns/Output

Channel Slope values of the stock

Formula