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TD Channel II represents the market's tendency to trade within a price band.
The extremes are defined as:
High band: 1/2 of 1% above the 3 day moving average of the highs.
Low band: 1/2 of 1% below the 3 day moving average of the low.
Parameters
This study is absolutely identical to TD Channel 1 except that it employs different default values.
The study command for Channel 2 is .TDCH2.