Donchian Channel Trend Intensity [DW] — Indicator by DonovanWall

centeredoscillator donchianchannels trendanalysis dcti trend intensity experimental

This is an experimental study designed to analyze trend intensity using two Donchian Channels.
The DCTI curve is calculated by comparing the differences between Donchian highs and lows over a major an minor period, and expressing them as a positive and negative percentage.
The curve is then smoothed with an exponential moving average to provide a signal line.

Custom bar colors included with two coloring methods to choose from.

Release Notes:

Updates:

Cleaned up the code. Condensed the operations into a function.

Bar color selection is now an easy to use dropdown menu.

For my full list of premium tools, check the blog:
wallanalytics.com/

Reach out on Telegram:
t.me/DonovanWall

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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