It was made by Richard Donchian, it is beneficial keep eye on volatility of Forex market.it is formed by the highest and lowest price peroid and the area between these high and low is called the channel, volatility is measured like this, when the volatility is less then the channel line will be narrow and if volatility is big then the channel line will be wide.
Working of this Indicator is shown above
Good luck.!Happy trading.
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