Your Pointer is no ordinary Forex channel. This corridor is built on the basis of the analysis of several candles, starting from the last one, as a result of which the extremes of the studied interval are determined. They are the ones who create the channel lines. Like all channels, it has a middle line as well as a high and low line. This channel is worth watching for its unusual behavior. The use of the Your Pointer indicator allows the trader to react in time to the price going beyond the boundaries of the channel set for it. Channel trading is one of the most popular Forex strategies, its simplicity allows even beginners to use this trading option.
Whichever chart you open, you will always see various pullbacks and twisting charts. The thing is that, according to many theories, the price always tends to balance after strong fluctuations in different directions. The price is in its trend movement in a certain range, and not a chaotic spread of the price, it is not clear in which direction. And if the price deviates within a certain range, it means that the boundaries of these ranges are support and resistance lines and form a channel. During these fluctuations, the channels are obtained, which so often uses technical analysis and what is implemented in this indicator.
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