OPEN-SOURCE SCRIPT
Updated High-Low Difference Channels - SMA/EMA
I wrote this up as a potential replacement for my BB based strategies, and so far it's looking pretty nice.
Description / Usage:
Description / Usage:
- Adjust length and multiplier much the same way you would expect with Bollinger Bands.
- Multiplier of 1 gives you a base channel consisting of one high, and one low sourced SMA (or EMA)
- The outer channels are increments of the base channels width, away from the median hl2 sourced SMA (..or EMA)
Note
New revision here, with more MA options than you can shake a stick at:
Note
Final revision done.Added (optional) select-able fixed resolutions, so you can have 1 hour bands on your 1 minute chart if you do so feel inclined.
Otherwise just some minor code cleaning and proper commenting:
![High-Low MA Difference Channels [Final]](https://tradingview.sweetlogin.com/proxy-s3/o/O5QQTsUK_mid.png)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.