OPEN-SOURCE SCRIPT
MA Streak Change Channel
Updated
Change Channel is like KC unless it uses percentage changes in price to set channel distance. Midline is zero-lag smoothed ROC with dynamic period based on MA Streak indicator, if MA Streak shows an ongoing trend, midline going strong and break out the channel.
Consider using ▲ green areas as a signal to buy and ▼ red areas as a sell signal. It works best in a flat market. Use in combination with other indicators.
Consider using ▲ green areas as a signal to buy and ▼ red areas as a sell signal. It works best in a flat market. Use in combination with other indicators.
Release Notes
* Midline is ROC with dynamic period based on MA Streak indicator.- Clean up the code
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 publication is governed by House rules. You can favorite it to use it on a chart.
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