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UnknownUnicorn508364

Donchian Oscillator

UnknownUnicorn508364 Updated   
Oscillators Centered Oscillators Trend Analysis donchianwidth highs LOWS breakout turtletrader
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oscillator centeredoscillator trendanalysis donchianwidth highs lows breakout turtletrader
This oscillator displays the proportions (ratios) of the closing price from the 20-period Donchian high & low prices. Use for breakouts (not intended for mean reversion).

Dark green = new 20-period high
Dark red = new 20-period low
Release Notes:
Altered the coloring scheme to be more precise and "readable".
Added lookback inputs for each plot.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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