Price Channel (PC)
The Price Channel displays two lines, with the upper line representing the highest price and the lower line representing the lowest price for a given look back interval. The bands can optionally be smoothed with a moving average, or shifted to the right with an offset value. Basic uses of the Price Channel are to identify breakouts form the channel and to determine placement of trailing stops.
Upper Band = Highest price in the last n periods
Lower Band = Lowest price in the last n periods