A channel can be a helpful guide to visualize support and resistance. MarketSmith includes a comprehensive set of markup tools, with one of the options being a set of parallel lines (a.k.a. channel).
In the short video that follows, I’ll show you where to locate the markup tools as well as how to configure a channel on the Nasdaq composite.
It’s worthing noting, when you use a markup tool, anything you draw on screen will be saved. For example, if you markup a chart with a channel, when leave to view a different symbol, upon return, the channel will be restored. Pretty cool, huh?