I (YardleyRosette) have republished this indicator with the fixed and optimal settings nearest to MetaTrader4 Traders Dynamic Index ("SYNERGY") Price Action Channel. Therefore I feel I have to accredit myself for selecting the optimal settingsas best intended by CompassFX.
Basic Rules: Solid filled Heikin Ashi above (golden) yellow PAC indicates strong upmove, trend trade (Buy). Solid filled Heikin Ashi under (golden) yellow PAC indicates strong downmove, trend trade (Sell). Weak Heikin Ashi bars signal weakness as if of ranging/consolidating market conditions, especially when price is within PAC. This is an alert zone in which not to trade or to close trade for possible reversed direction.
2nd Channel made for assistance due to the unfixable precision settings when compared to MetaTrader4's Price Action Channel. MT4 displaces PAC in a certain manner TradingView has no script for programming.
@ShastryAnanth, Anyone can use it. Just open indicators library (shortcut with forward slash /) and then type YardleyRosette. There you will find Price Action Channel ( PAC ) - Restoration by YardleyRosette