Channel Range System

📏 Channel-Based System

The channel-based system consists of multiple bands based on the Average True Range (ATR):

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📐 Components:

• Mid Channel (optional display)

• Upper/Lower Bands

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🔍 What These Channels Help Identify:

• 📉 Potential support and resistance levels

• ⚠️ Overbought/oversold conditions relative to volatility

• 🔄 Potential reversal zones

• 🔁 Price expansion and contraction patterns

💡 It helps to give a general overview of price ranges at a quick glance.