Wave Channel 3D

Wave Channel 3D
Built by Ricardo idea from JR & Aloakdutt from indieTrades Jan. 2010

This indicator is very easy to build. We utilize Moving Averages with a set multiplier and an offset. Specially we try to use Fibonacci sequence series numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...) as time space and multiplier (default 89, 8). Also included is Donchian Channel to locate strong trends and possible future support - resistance.


Examples of support/resistance on chart.



Dominant Price Trends



Future Support Resistance



Comparing Fibonacci Series Time Space - Multiplier



When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example uses DC


When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example without DC / Smooth MA