{"product_id":"bm-trendchannel","title":"BM TrendChannel","description":"\u003cp\u003eBMTrendChannel\u003c\/p\u003e\n\u003cp\u003eCATEGORY: Indicator · For NinjaTrader 8 · Automatic trend lines\u003c\/p\u003e\n\u003cp\u003eHOW IT WORKS: It detects the most recent swing lows and highs (swing pivots) and plots two independent trend lines extending indefinitely to the right: one connecting the recent lows (uptrend boundary) and another connecting the recent highs (downtrend boundary). Each line has a configurable number of pivots—they are not linked to one another, so you can specify, for example, 3 rising lows and only 2 falling highs. It issues an alert when the price breaks either line, with a configurable breakout margin (in ticks) and confirmation upon bar close or instantly.\u003c\/p\u003e\n\u003cp\u003eKey features:\u003c\/p\u003e\n\u003cp\u003eAutomatically classifies the pattern formed by the two lines based on their relative orientation: rising lows and rising highs indicate an ascending channel; falling lows and falling highs indicate a descending channel; rising lows and falling highs indicate a compression wedge; falling lows and rising highs indicate an expansion pattern (megaphone)—the trader does not need to interpret the geometry visually.\u003cbr\u003eUses a least-squares fit for 3 or more pivots, rather than simply connecting two points. While any straight line passes exactly through two pivots, with three or more, the line of best fit is calculated; this absorbs noise from an outlier pivot at the cost of the line not touching every point exactly. Includes an R² filter (fit quality) that is only meaningful when using 3 or more pivots—with two points, R² always equals 1, so the indicator applies it correctly only when it provides actual information.\u003cbr\u003eDoes not repaint, by explicit design: a pivot is confirmed N bars after forming (based on the configured pivot strength), and this delay is the price paid to ensure that the line, once drawn, does not move retroactively. Configurable tolerance for pivot chains in noisy markets: by default, it requires each new pivot to be strictly higher (or lower) than the previous one, but allows for a small deviation (in ticks) so that a new high exceeding the previous one by a negligible margin doesn't unnecessarily break the chain.\u003cbr\u003eRetains the history of broken lines, not just the active one: each line tracks its own \"period\" count (starting when its pivots form and ending when it breaks) and can be configured to display a set number of past broken periods for visual reference, using distinct styling to differentiate historical lines from the active one.\u003cbr\u003eExposes its internal state for use by other strategies—beyond mere on-screen visualization—including the number of pivots in each active chain, the bar and price where the last pivot was confirmed, and each line's slope and R² value. This allows an automated strategy to react the instant a third pivot is completed, for example, without needing to reimplement the detection logic.\u003c\/p\u003e\n\u003cp\u003eTARGET AUDIENCE: Traders who trade channels and trendlines and want them automatically detected, classified, and updated—complete with breakout alerts—as well as developers wishing to build custom strategies upon this same pivot and line detection logic using the data the indicator already exposes.\u003c\/p\u003e\n\u003cp\u003eTECHNICAL REQUIREMENTS: NinjaTrader 8. Any instrument with intraday data.\u003c\/p\u003e","brand":"EKAITRADING","offers":[{"title":"Default Title","offer_id":51760119185714,"sku":null,"price":175.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0992\/3493\/9186\/files\/trednchannel.png?v=1789021972","url":"https:\/\/ekaitrading.com\/en\/products\/bm-trendchannel","provider":"EKAITRADING","version":"1.0","type":"link"}