Visual Algos employs the following methods of application of bands to generate easy-to-read charts based on classic formations.
♦ Dynamic Channel
Dynamic channel is a channel of varying width.
♦ Resistance Band
Resistance band can have a positive, negative, or neutral slope.
♦ Downtrend Band
Downtrend band is a subset of negatively sloped resistance bands.
♦ Support Band
Support band can have a positive, negative, or neutral slope.
♦ Uptrend Band
Uptrend band is a subset of positively sloped support bands.
♦ Triangle
Triangle is a pattern which is formed by forces exerted by converging sets of bands.
♦ Wedge
Wedge, a type of triangle, is formed by forces exerted by converging sets of bands of the same slope sign.
♦ Broadening
Broadening is a pattern which is formed by forces exerted by diverging sets of bands.
♦ Flag
Flag, preceded by its parent trend, represents a pause within a channel and is followed by continuation of the parent trend.
♦ Pennant
Pennant, preceded by its parent trend, represents a pause within a triangle and is followed by continuation of the parent trend.
♦ Envelope
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