ZSZ_Chunnel
In this version you can change the ATR calculation method from the settings.The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a superindicator are 10 for average true range or trading period and three for its multiplier.
The average true range (ATR) plays an important role in 'Chunnel' as the indicator uses ATR to calculate its value. The ATR indicator signals the degree of price volatility .
The buy and sell signals are generated when the indicator starts plotting either on top of the closing price or below the closing price. A buy signal is generated when the ‘Chunnel’ closes above the price and a sell signal is generated when it closes below the closing price.
It also suggests that the trend is shifting from descending mode to ascending mode. Contrary to this, when a ‘Chunnel’ closes above the price, it generates a sell signal as the colour of the indicator changes into red.
The indicator can be used on equities, futures or forex, or even crypto markets and also on daily, weekly and hourly charts as well, but generally, it fails in a sideways-moving market.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact bitcoinvestors directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact bitcoinvestors directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.