GP - SRSI ChannelThis indicator is designed to predict at what point the price-time charts will rise or fall. It is inspired by the RSI and Stochastic RSI formulas. The formula simply calculates the RSI and Stochastic RSI values of the opening, high, low and closing values. It performs this calculation by creating a series from the data in the 3-hour, 6-hour, 12-hour and 1-day time frames that come as standard with the indicator. The maximum and minimum values in the series are taken for the candles included in the calculation. These values create a colored channel between two values on the chart. If the line labeled "Max" from these values is in the "Green area" region, it indicates that the price will start to decrease. If the line labeled "Min" from these values is in the "Red area" region, it indicates that the price will start to increase. Although these calculations are not definite; seeing that the channel has reached the green area at the top means that the price will start to fall in that area, and seeing that the channel has reached the red area at the bottom means that the probability of the price to start to increase in that area increases. This indicator should not be used alone to determine the direction of the price. When this indicator comes as standard, use it on a 3-hour chart. To use it on all price-time charts, enter the 4 different times in the settings section, each of which will be twice the time.
Example-1 = Time1: 15 minutes, Time2: 30 minutes, Time3: 1 hour, Time4: 2 hours on a 15-minute chart.
Example-2 = Time1: 30 minutes, Time2: 1 hour, Time3: 2 hours, Time4: 4 hours on a 30-minute chart.
Examples can be multiplied in this way.
