The indicator displays the high and low of a channel for a possible price action breakout.

Also, it displays the distance in points inside a channel's range.

• If the price is above the blue channel line, there is a possible breakout to the upside. Price might continue to trend up.
• If the price is below the pink channel line, there is a possible breakdown to the downside. Price might continue to trend down.

Settings

• #0: Default setting for the upper channel line is PowerBlue color
• #1: Default setting for the lower channel line is Pink color

Take a look at the screenshot to see for yourself.