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BiB Channel


also the main feature – the forecast of short-term trends, that is, the upward station is broken up up on the bottom, usually when you affirm the tick volumes, and start to develop a downward channel, which in turn is broken on top also with increased volumes and adjustments to ascending. As a special instance, ascending and descending channels go into sideways . The diameter of the channel and its duration are determined by the market situation and the stage of the market-bull or bear market. Tick volumes in this instance are important not by real data on the positions of players, however by activity on exiting the channel, which characterizes the mood of the main players. CPC (channel breakout price) is a compromise price of major players. After the break out of the channel, the price is testing:

The proportion of tests feels like 60-30-10. This method of building a channel excludes “free” interpretation of the price and possible options for building a channel, which is a sin of modern technical analysis. It allows you to clearly define the boundaries of the channel and find the most important price point on the chart – the CPC, relative to which the development of a new trend begins.

It also implements automatic wave analysis based on Elliott theory and Gann instruments (fan and swing). Visibility in the display of channels, the most important price points, wave tops and market tops gives the trader a complete understanding of the market in which this BULL(BEAR) MARKET tool is located, which means that it allows the trader to make such important decisions as:

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  • Accurately determine the moment of entry into the market;
  • Trade only on the trend;
  • Hold a position until the market gives a signal that it is changing due to the appearance of market peaks – BULL (BEAR) MARKET;
  • To implement the principle of “let profits run»;
  • Using the Gann fan makes it possible to see resistance levels and accurately predict the zones of possible peaks;
  • Automatic calculation of the position volume depending on the price of penetration, local extrema and received % of the risk, facilitate trade for both beginners and experienced traders;
  • This indicator automatically analyzes the waves and their designation, which eliminates doubts about the correctness of the construction and interpretation of the wave analysis.

The indicator can be used as a ready-made trading system with the addition of market filters, and it can also be used as a basis for developing short – and medium-term strategies.

  • minbars = 2 – minimum number of bars to build a channel
  • drawfan = true-draw or not a fan
  • usemonocolor = false-use only one color
  • MonoColor = clrBlue – the color of the fan
  • Filling = false-fill
  • fill_lighting = 0.9-lightening the fill
  • barsCount = 1000 – number of bars to calculate
  • Channel_Color = clrBlue – the color of the channel
  • line_color = clrred – color of the channel face
  • line_width = 3 – width of the channel face
  • entry_label_color = clryellow – color of the channel breakout price label
  • sl_label_color = clrred-label color for stop loss
  • label_size = 2 – label size
  • waves_up_color = clrlime – color of the upper wave designation
  • waves_down_color = clrred – color of the lower wave designation
  • Waves_Text_Size = 14 – size of the text
  • Show_MM = true – show or not the calculation of the lot
  • Risk = 1.0 – percentage of risk from equity
  • show_fan_alert = false-whether to notify about the appearance of a new wave
  • Show_ChannelBreak_Alert = false – whether to inform about the breakthrough of the channel
  • alerton = true-notification on the screen about channel breakout
  • soundon = true – sound notification about channel breakout
  • emailon = false – email notification about channel breakout
  • notificationon = false-notification to the mobile device about the channel breakout



Free Download and Review BiB Channel from Fxbotreview.com/

About author

Oxford graduate with honors. He worked in large financial projects for well-known Wall Street corporations. After he earned his first capital and a reputation as a successful trader, he opened his own company. At the moment, the growth of the company's capital is 20% per year.
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