Draws a channel based on 200h moving avarage. Channel bounds are based on a weighted day`s ATR. A price is usually not exceeds a channel`s 2 bounds (red color) for a much points, especially during a trend. A channel 1 (yellow color) is optional and may be used as an estimated landmark level during consolidations.
The script`s parameters are optmized for EUR/USD. You may customize parameters and use any other tickers.