Price Channel (Top) [PCTop]

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The Price Channel (Top) function calculates the upper band of an envelope for a field using the previous highest high over a given period. Parameters ------------------ High           The high price of the security for each given day. Period        The number of bars of data to include in the average, including the current value.                   For example, a period of 3 includes the current value and the two previous values. Indicator Value ------------------------ Price Channels are a pair of values placed as an "envelope" around a data field. The values are calculated by taking the preiovus highest high and lowest low for a given period. Since Price Channels look back over a period, the value at the beginning of a data series is not defined until there are enough values to fill the given period. Usage ----------- Price Channels are useful for determining whether current values of a data field are behaving normally or breaking out in a new direction.