stelaraX - Price ChannelstelaraX – Price Channel
stelaraX – Price Channel is a classic breakout and trend indicator designed to define dynamic support and resistance based on recent price extremes. By tracking the highest highs and lowest lows over a fixed period, it highlights price boundaries and directional pressure.
This indicator is part of the stelaraX ecosystem, focused on clean technical analysis and AI-supported chart evaluation
stelarax.com
Core logic
The Price Channel is constructed by identifying the highest high and lowest low over a user-defined lookback period and deriving a midpoint between both boundaries.
Key principles:
* the upper band represents recent resistance
* the lower band represents recent support
* the channel adapts dynamically to new price extremes
* the midpoint reflects short-term equilibrium
* an optional offset allows temporal shifting of channel levels
Breakouts above or below the channel often signal trend continuation or the start of new directional moves.
Visualization
The script plots:
* the channel midpoint directly on the price chart
* upper and lower channel boundaries based on recent extremes
* a shaded fill between the bands for visual clarity
* individually configurable colors for midline, bands, and fill
This clean channel structure makes breakout zones and consolidation phases easy to identify.
Use case
This indicator is intended for:
* identifying breakout and continuation opportunities
* defining dynamic support and resistance levels
* filtering trades in trending and ranging markets
* structuring stop placement and risk management
* supporting trend-following and channel-based strategies
It works well across multiple timeframes and integrates seamlessly with price action and AI-assisted chart analysis.
Disclaimer
This indicator is provided for educational and technical analysis purposes only and does not constitute financial advice or trading recommendations. All trading decisions and risk management remain the responsibility of the user.
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