And there are many
SHI_Channel indicators (based on factals).
SHI_Mod.mq4 (image c.gif).
Strandard SHI_Channel indicator (d.gif).
Regression_Channel.mq4 (e.gif) with 21 Simple MA with closed price and based on 21SMA and 50 LWMA crossing with some high/low calculation to draw the channel.
Alp evaluated this Regression_Channel
here.