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QG- Better Channel MTF

The idea of a channel similar to Donchian channel but one that expands in trending markets and narrows in a ranging markets was born by Alex Grover on TradingView.
This script is a conversion from original TV script to Ninjascript.

The channel breakout generally indicates beginning of a new trend and pullbacks towards middle of channel are generally reliable trend continuation signals.
I have added multi timeframe version of this script here that shows trend in a higher timeframe and pullbacks in a lower timeframe.

Improvements and additions in this script are welcome.

Category The Elite Circle

Details: QG- Better Channel MTF
Category: The Elite Circle

August 24th, 2022
Size: 3.86 KB

Keywords: better channel

Comments/ratings

chalil September 1st, 2022 09:19 AM

Improvements to the MTF can be:

option to change the channel opacity
option to change the colour of each line as it rises remains flat or drops

Thanks for sharing.

Zhuhai September 2nd, 2022 06:44 PM

Perfection.

wglsdzb September 19th, 2022 03:59 PM

Does not work for Forex, does not draw

Ganymed September 22nd, 2022 01:23 AM

:-)

djansen October 25th, 2022 09:54 PM

Brilliant

djansen October 25th, 2022 09:54 PM

Brilliant

Falco11 December 15th, 2022 09:11 AM

No Comment

DaveP711 February 26th, 2023 02:31 PM

Very slick! Thanks! The midline is superb- lots of uses for it.

ndakotan March 21st, 2023 05:05 PM

looks great

prutrader August 1st, 2023 09:41 PM

Excellent

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