The indicator calculates the distance between linear regression line and the data point (price) as a percentage , then calculates the standard deviation for the linear regression distance , then draw the channel of two lines depending on the values of standard deviation .
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1 - for Best result , indicator should be used on 2H frame Time of less : like 1H or 30 min
2 - The upper line and the lower line, both play a role as a support and resistance area, when the price bounces from the upper zone or lower zone, there is a high probability that it will move to the other line.
3 - The price breakout of one of the lower or upper lines may indicate a major price movement coming in the direction of the breakout