PumbaPLS wrote: Sun Oct 09, 2022 9:40 pm The G-Channel indicator is amazing!
I might need to steal it, if you dont mind!
You must know I am a professional thug, I steal working indicators from other Systems and make my own!
It's definitely a gem
G channel is a channel indicator with 3 lines- a middle line representing a central tendency and 2 Upper and Lower boundaries calculated based on the past values of same indicator. Its based on the paper "Recursive Bands - A New Indicator For Technical Analysis" by Alex Grover and is a code conversion from TradingView.
The channel breakout of Upper or Lower boundaries represent a new trend or trend continuation while narrowing of bands represents ranging or low volatility conditions.
The channel can prove to be a good indicator of a trend direction and also a guide for trailing of stop loss. It has only 2 variables. Channel period - default set to 100. Price type.
