A channel that contains approximately 95% of all price data for the past 100 bars, about five months on a daily chart. It automatically plots correct channels for any trading vehicle in any timeframe.
Sorry, but this script, and everyone else who posted "Elders Autoenvelope" indicators on TV don't seem to be correct. I've spent a lot of time now, directly comparing with Elder's charts (w his envelope) Unfortunately, this indicator script seems to be off by a notable difference. I even tried to match his charts w/ envelope by adjusting all the various inputs to find a match, but no luck...
Unfortunately, this indicator script seems to be off by a notable difference. I even tried to match his charts w/ envelope by adjusting all the various inputs to find a match, but no luck...