LazyBear

Indicator: Custom COG channel

This is my custom channel (Bear Channel!? :)) derived from BB/STARC. It uses both ATR/STDEV for plotting the bounds.

I use COG (Center of Gravity ) for deriving the baseline. This enables it to track the price action better than many other channels that make use of MAs or simply "close". Indicator also marks "squeezes" (stdev bands come inside ATR bands). Pay attention to these, as these usually indicate a move.

I am still exploring this indicator on different BTCUSD time frames, would love to hear your feedback / setups for other instruments.

Code for this indicator: http://pastebin.com/QXBJqAhA


Code for COG fibs I mentioned in the comments: http://pastebin.com/CbxY31at
Gỡ bỏ khỏi Script Ưa thích Thêm vào Script Ưa thích
//
// @author LazyBear
//
// This is my custom channel derived from BB/STARC. This uses both ATR/STDEV for plotting the bounds. 
// I use COG for the base line (normally it is SMA/EMA). 
// 
// If you use this code in its original/modified form, do drop me a note. 
//
study("COG Double Channel [LazyBear]", shorttitle="COGChannel_LB", overlay=true)
src = close
length = input(34)
median=0
mult=input(2.5)
offset = input(20)
tr_custom() => 
    x1=high-low
    x2=abs(high-close[1])
    x3=abs(low-close[1])
    max(x1, max(x2,x3))
    
atr_custom(x,y) => 
    sma(x,y)
    
dev = (mult * stdev(src, length))
basis=linreg(src, length, median)
ul = (basis + dev)
ll = (basis - dev)
tr_v = tr_custom()
acustom=(2*atr_custom(tr_v, length))
uls=basis+acustom
lls=basis-acustom

// Plot STDEV channel
plot(basis, linewidth=1, color=navy, style=line, linewidth=1, title="Median")
lb=plot(ul, color=red, linewidth=1, title="BB+", style=dashed)
tb=plot(ll, color=green, linewidth=1, title="BB-", style=dashed)
fill(tb,lb, silver, title="Region fill")

// Plot ATR channel
plot(basis, linewidth=2, color=navy, style=line, linewidth=2, title="Median")
ls=plot(uls, color=red, linewidth=1, title="Starc+", style=circles)
ts=plot(lls, color=green, linewidth=1, title="Star-", style=circles)
fill(ts,tb, green, title="Region fill")
fill(ls,lb, red, title="Region fill")

// Mark SQZ
plot_offs_high=2
plot_offs_low=2 
sqz_f=(uls>ul) and (lls<ll)
b_color=sqz_f ? teal : na
plot(sqz_f ? lls-plot_offs_low : na, color=b_color, style=cross, linewidth=2)
plot(sqz_f ? uls+plot_offs_high : na, color=b_color, style=cross, linewidth=2)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Bình luận

Hey guys, i really like this one. Yet still i have problems figuring out how to make proper use of it. Can someone drop me a hint or a good source to a read about channels like this one? I haven't found anything sufficient yet.
+6 Phản hồi
Buy straddles/strangle options when you see the blue crosses
+4 Phản hồi
Kurbelklaus QuantitativeExhaustion
Ah thank you that helps :) Basically this was my problem since the squeeze only indicates a move but not the direction. I am just not sure if this is possible on BFX.
Phản hồi
Quick visual comparison of this channel with BB. Similar ATR comparison can be made too.

+6 Phản hồi
This works great!
+4 Phản hồi
Applied your indicator to NVIDA, it says a move is coming . I agree. Thank you !!

+5 Phản hồi
LazyBear littleriver
Nice. BTW, you may want to use the code I have given in the link -- http://pastebin.com/QXBJqAhA <-- this has the suggested changes from @TheLark.
+7 Phản hồi
What about a fibo bear channel like this one ;)
+4 Phản hồi
A similar Fib channel, based on COGs though

+5 Phản hồi
magarto LazyBear
Thanks again ;)
+1 Phản hồi
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