Equidistant Channel

The most basic type of channel is one in which you create a trendline, connecting several lows or highs, and then you create a second trendline that is parralel to the first. You then place this second trendline where you see it creating a trend channel. The Equidistant Channel tool allows you to do just that. Lets show you how simple this using this drawing tool is in VT Trader.

Select the Equidistant Channel Tool

You select the Equidistant Channel Tool from either the Drawing Toolbar or from the Tool Selector Icon in the Chart Window Toolbar. Both of these ways to get to this tool are shown below, and highlighted in red.  

Placing and Moving the Channel

Once the tool is selected place your first trendline just like you would a normal trendline. Click on one low or high and drag your mouse to a second low or high. The tool will automaticlaly create a second parrallel trendline. 

 

Next, you click and drag the second trendline to a new position, that corresponds to what you believe is the right place to set up a price channel. You can move around the second trendline independently of the first trendline, but when you move the first trendline, it makes both trendlines move in unison. Likewise, if you use one of the first trendline's endpoints to spin the trendline to a different angle, the second trendline will also change to maintain its parrellal alignment.

You change the properties of the Equidistant Channel trendlines in the exact same way as normal trendlines.