The Stochastic Parabola Channel has two main purposes:
– it draws the price channel based on the Stochastic indicator = allows the traders to determine the trend and the price action and direction
– it plots the Stochastic lines on the chart = determines the trade entries and exits based on the Stochastic oscillator
The Stochastic channel can be displayed as linear channel, parabola (curved, same as below) or steps.
The settings are basically the Stochastic indicator’s settings, with the extra inputs to determine the standard deviation factor, channel length (in bars), shift etc.
Free download
Jonas Preston (verified owner) –
It helps traders to identify the trend direction, entry and exit points, and potential reversals. The indicator is easy to use and customize, and it works well on any timeframe and currency pair.