Chart.
Quoting ahaDislikedHi Orange,
Here is an indicator basically does what you have asked for.
There is an input parameter called daysago. It's for testing purposes. When it's set to 0, it draws LRC for current chart. When it is set to, for example 10, it will draw LRC based on the situation 10 days ago so the channel can be used as a reference for the trading around those days (not for recent days). In this way it allows a tester to backtest this indicator and see if it is intelligent enough to perform in different period of the history.
The TICK for current bars open price is also added, if that's what you meant.
Anyone who are interested in testing this out please feel free to do so. If you find a time in the history that this indicator draws the channel wrong, you may PM me and I will see what I can do to improve its intelligence.
aha
[Edit] Added a twostepchannel parameter. Which allows to display the last two LRC channels that were in effect. Thought this feature would be helpful when the trend reversal is happening.
Also I decided to move this indicator from this thread to the EA factory thread, where I maintain most of my work. So I don't have to come back and fumble through this growing thread for related responses.
Here is the link: http://www.forexfactory.com/forexfor...&postcount=575Ignored
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Target: Trading naked.