Trend Channel [Gu5]

SMA 200 determines the trend
Bullish trend , green candles. Down trend, red candles.
If the market value is narrow to the SMA200 channel, yellow candles.
Setting recommended for SMA Range
BTCUSD = 100
EURUSD = 1000
SPX = 100
Release Notes: Update to Pinescript v.4
Clean code
Channel changes color too
Release Notes: bcolor change
Release Notes: Channel change
Release Notes: Clean code
Release Notes: Now it is compatible with any market, without manual setting
Release Notes: Clean 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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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