SSL Channel Chart

Category: trend

A trend-following channel indicator that flips based on price closing relative to high/low moving average bands. Used extensively in the NNFX trading methodology.

Formula

\\text{MA\_High} = SMA(High, L_b), \\text{MA\_Low} = SMA(Low, L_b) \\\\ \\text{Direction} (Hlv) = \\begin{cases} 1 & \\text{if } Close > MA\_High \\\\ -1 & \\text{if } Close < MA\_Low \\\\ Hlv_{prev} & \\text{otherwise} \\end{cases} \\\\ \\text{sslu (Aqua)} = (Hlv == 1) ? MA\_High : MA\_Low \\\\ \\text{ssld (Orange)} = (Hlv == 1) ? MA\_Low : MA\_High

Inputs

• MA_Method (default: MODE_SMA)
• Lb (default: 10)

See signal primitives and every published strategy that uses SSL Channel Chart on WOBR StrategyVerse.