What is this indicator?
Draws three parallel lines from three pivot points, showing the median and probable boundaries of price fluctuation. The tool's median line often behaves like a dynamic moving average.
How to read the chart
A pattern forming completely and getting confirmed by volume or the next candle raises the signal's validity; an incomplete or unconfirmed pattern can produce the opposite result.
Practical tip
A pattern's validity increases on higher timeframes and with heavier trading volume; on very low timeframes there's a lot of noise.