OPEN-SOURCE SCRIPT
G-Channel Trend Detection (jaggedsoft) / Owl of Profit remake
G-Channel Trend Detection Strategy (by jaggedsoft)
Special thanks to jaggedsoft and AlexGrover for the original concept and inspiration for this strategy.
This strategy leverages G-Channels for efficient trend detection by calculating the upper and lower extremities, providing dynamic signals for trend-based trading.
Features
G-Channels:
Calculates upper (a) and lower (b) bounds of price movement over a specified length.
Dynamic calculation adjusts with each bar, forming an average line (avg) for trend analysis.
Signal Detection:
Bullish Signal: When close moves above the lower bound.
Bearish Signal: When close moves below the upper bound.
Color-Coded Visualization:
Green (lime) for bullish trends.
Red for bearish trends.
Fills the area between the average line and the close price with trend-aligned colors for better visual clarity.
Entry and Exit Logic
Long Entry:
Triggered when a bullish trend starts.
Short Entry:
Triggered when a bearish trend starts.
Exit Logic:
Positions are automatically exited based on trend reversals.
Customization
Length Parameter:
Default: 100 bars.
Adjust to fit different timeframes and trading styles.
Cross Markers:
Optional cross markers for buy and sell signals can be toggled on/off for additional clarity.
This strategy is ideal for traders looking to capitalize on dynamic trend movements while maintaining visual clarity of market conditions.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
Special thanks to jaggedsoft and AlexGrover for the original concept and inspiration for this strategy.
This strategy leverages G-Channels for efficient trend detection by calculating the upper and lower extremities, providing dynamic signals for trend-based trading.
Features
G-Channels:
Calculates upper (a) and lower (b) bounds of price movement over a specified length.
Dynamic calculation adjusts with each bar, forming an average line (avg) for trend analysis.
Signal Detection:
Bullish Signal: When close moves above the lower bound.
Bearish Signal: When close moves below the upper bound.
Color-Coded Visualization:
Green (lime) for bullish trends.
Red for bearish trends.
Fills the area between the average line and the close price with trend-aligned colors for better visual clarity.
Entry and Exit Logic
Long Entry:
Triggered when a bullish trend starts.
Short Entry:
Triggered when a bearish trend starts.
Exit Logic:
Positions are automatically exited based on trend reversals.
Customization
Length Parameter:
Default: 100 bars.
Adjust to fit different timeframes and trading styles.
Cross Markers:
Optional cross markers for buy and sell signals can be toggled on/off for additional clarity.
This strategy is ideal for traders looking to capitalize on dynamic trend movements while maintaining visual clarity of market conditions.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
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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Disclaimer
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