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The Perfect Moving Average Channel

How to use the perfect moving average channel afl?

The Perfect Moving Average Channel is comprised of multiple key moving averages which acts as perfect dynamic support and resistance. With the help of this afl, you can also determine the trend of stock. This is lince chart so whenever you find the lines above key moving averages, go for buy and if lines are below key moving averages, go for sell. This afl can be used for both intraday and swing traders. Since this is line chart, it is not recommended for entry level traders to avoid the confusion.
The Perfect Moving Average Channel
The Perfect Moving Average Channel

//www.aflcode.com

Var = 4;
M1 = MA(Max(H,Var ),2);
L1 = MA(Min(L,Var ),2);
K = M1 - L1;
Num1 = sqrt(K);
Dem1 = sqrt(1.00+K);
H1 = (Num1/Dem1)/2;
Num2 = sqrt(1.0);
Dem2 = sqrt(1+K);
H2 = ((Num2/Dem2)/2) *C;
H3 =(H1 + H2) ;
MAH2MA =MA(L - (H2/100),Var );
MAH3MA= MA(H + (H3/100) ,Var);
MA3 = (MAH3MA + MAH2MA) /2;
UCL =( MAH3MA + MA3 )/2;
LCL = (MA3 + MAH2MA )/2;

//Buy = INSERT RULES HERE ;
//Sell = INSERT RULES HERE  ;
//Cover = Buy;
//Short = Sell;
//Equity(1);

Plot(Close,"Valley 'R' Channel    Close",1,8);
//Plot(L,"Low",6,8);
//Plot(Close,"Close",1,64);
Plot(MAH2MA ,"H2",5,4);
Plot(MAH3MA ,"H3",4,4);
Plot(MA3 ,"Center",2,4);
Plot(UCL ,"UCL",10,4);
Plot(LCL ,"LCL",10,4);
//Plot(Avg,"Valley 'R' Channel (C) 2004  Avg",colorYellow,8);


////////////////////////////////// Market Trend Plot Section
//Plot(MA(C,18),"MA18",4,4);
Plot(MA(C,40),"MA40",7,4);
Plot(MA(C,100),"MA100",5,4);
Plot(MA(C,200),"MA200",6,4);
Plot(Close  ,"Close" + EncodeColor( colorBlack )  ,2, styleNoLine | styleNoRescale );
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