Regression Channel Alternative MTF V2

9 Apr 2023

█ OVERVIEW
This indicator is a predecessor to Regression Channel Alternative MTF, which is coded based on latest update of type, object and method.

█ IMPORTANT NOTES

• This indicator is NOT true Multi Timeframe (MTF) but considered as Alternative MTF which calculate 100 bars for Primary MTF, can be refer from provided line helper.
  
• The timeframe scenarios are defined based on Position, Swing and Intraday Trader.
  
• Suppported Timeframe : W, D, 60, 15, 5 and 1.
  
• Channel drawn based on regression calculation.
  
• Angle channel is NOT supported.
  

█ INSPIRATIONS

• These timeframe scenarios are defined based on Harmonic Trading : Volume Three written by Scott M Carney.
  
• By applying channel on each timeframe, MW or ABCD patterns can be easily identified manually.
  
• This can also be applied on other chart patterns.
  

█ CREDITS

• Scott M Carney, Harmonic Trading : Volume Three (Reaction vs. Reversal)
  

█ TIMEFRAME EXPLAINED

• Higher / Distal : The (next) longer or larger comparative timeframe after primary pattern has been identified.
  
• Primary / Clear : Timeframe that possess the clearest pattern structure.
  
• Lower / Proximate : The (next) shorter timeframe after primary pattern has been identified.
  
• Lowest : Check primary timeframe as main reference.
  

█ FEATURES

• Color is determined by trend or timeframe.
  
• Some color is depends on chart contrast color.
  
• Color is determined by trend or timeframe.
  

█ EXAMPLE OF USAGE / EXPLAINATION