Most channel indicators tell you where the breakout level is. This one tells you how far away from it you are, right now, in a form you can act on.

The panel shows, for both the upper and the lower channel edge:

  1.    the level itself
  2.    the distance from the current price, in the symbol's own price units
  3.    the same distance expressed in ATR units
  4.    a proximity bar that fills as price approaches the trigger

Why the ATR column matters. A distance of 8 dollars from a breakout means something completely different in a quiet Asian session than it does during a news release.
Dividing the distance by the current ATR makes the number comparable across sessions, across volatility regimes and across symbols. A reading of 0.30 ATR means the same thing on gold as it does on EURUSD.

Colour coding:

  •    normal text : more than InpNearATR away (default 1.0 ATR)
  •    gold        : within InpNearATR
  •    orange red  : within InpVeryNearATR (default 0.5 ATR)