Work on top of a great lazy bear script , here you can quite easily see where the close price lies compared to the channels . You can turn on displaying the high low as well which allows you to see where wicks went.
please remember to thank lazy bear
Price Channel Implementation.
You can choose to see indicator for Long or for Short trading and to determine frames for Open and frames for Close, in a sense that you could choose 4W for Open and 2W for Close.
Green line is to Open Position when broken, and Red line is to Close Position with broken.
Hope you enjoy with it.