The Parallel Channel drawing tool is primarily used to distinguish trends of a price movement. The Parallel Channel tool has an option of being extended either to the right, left or both directions, if the user wants the channel to be continued indefinitely.
In Appearance property dialog it is possible to change the appearance of a Parallel Channel:
Sets the color, opacity, thickness and the style of the parallel channel’s borders.
Sets the background of the channel. Fill color and it’s opacity can be selected in the drop-down beside.
Check this box to extend the parallel channel’s left end indefinitely.
Check this box to extend the parallel channel’s right end indefinitely.
In View properties dialog you can switch the Parallel Channel’s displaying on charts of different timeframes: