INR chart, page-151

We've got a similar channel, yours seems to not be anchored by price action though and tighter. Arbitrary trial and error placement? Mine's a bit wider and gives you a clear sense of where price is compared to linear reversion (high and low rails of the channel, each one being one standard deviation above/below the mean).

Same result, our channels indicate +/- value relative to prevailing price action. Problem with hand placed lines is the propensity to adjust them as price action unfolds, especially a risk considering how hard it is to place the line when it's dashes. I guess it's not meant to be exact and represents an 'area' of over/under value. I just shared mine for curious other analysis to add to the mix, I'm done buying so it's just entertainment for me and perhaps helps someone else pick a good entry point.