Donchian Channels Oscillator — Indicator by cyatophilum

If we take the difference between Donchian Channels upper and lower, we can get a lot of information on the trend. I made it into a percentage and used a color system to make it easy to look at.

> green color = bullish trend
> red color = bearish trend
> white color = consolidation OR trend is about to change (low percentage)

The percentage value tells us about the strength of the trend. The highest, the strongest the trend is.

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Open-source script

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