Parallel channel
Channels3 points to clickTwo parallel lines marking the corridor price has been travelling in.
What it looks like
The numbered dots are where you click. Once drawn, you can grab those dots and move them.
How to draw it
Draw the base line with two clicks, then click a third time on the far side to set the width of the corridor.
When to use it
Widening it until every bar fits gives you a corridor that says nothing — fit it to places price actually touched.
In SQMATE
What you draw stays
Lines you draw are saved to that symbol's notebook. Open the symbol again and they are still there.
Editable afterwards
Grab the points to move them, and change colour, width and line style. Undo works too.
Shares as drawn
Send the chart as a single link. Whoever opens it sees the same lines.
Related tools
- Regression trendFits the best straight line through the chosen stretch and wraps a band around it.
- Flat top/bottom channelA corridor with one flat side, top or bottom.
- Disjoint channelA corridor whose two edges are not parallel — widening or narrowing.
- Trend lineThe most basic line: connect two places to mark the direction of a run.
- RayTwo points set the direction and the line runs on to the right forever.
- Info lineA trend line that also prints the values and length of what it spans.
Drawing tools are a way to organise your thinking. A line you draw does not decide what price will do.