1. Channel Calculation: - The indicator calculates an upper channel (`UpperBuffer`) and a lower channel (`LowerBuffer`) based on the input parameters `ChannelPeriod`. - The channels are determined by a dynamic calculation that considers the current price (`src`) and the previous values of the upper and lower channels (`aBuffer` and `bBuffer`).
2. Middle Channel: - The middle channel (`MiddleBuffer`) is the average of the upper and lower channels, providing a central reference line.
3. Exponential Moving Average (EMA): - The script calculates an Exponential Moving Average (`EMAValue`) based on the closing prices with a specified period (`EMAPeriod`).
4. Channel Plots: - Plots for the upper, lower, and middle channels are displayed on the chart, each with a distinctive color and style.
5. Fill Between Channels: - The space between the upper and middle channels is filled with a blue color (`#1900ff`), and the space between the lower and middle channels is filled with a red color (`#f70a0a`).
6. EMA Line: - The EMA line is plotted on the chart in green.
7. Buy and Sell Signals: - Buy signals (`buySignal`) are generated when the EMA crosses above the middle channel. - Sell signals (`sellSignal`) are generated when the EMA crosses below the middle channel. - Arrows are plotted at the respective locations of buy and sell signals.
8. Breakout Arrows: - Additional arrows are plotted when the closing price breaks out above the upper channel (green arrow) or below the lower channel (red arrow).
9. User Input Parameters: - Traders can customize the input parameters such as `ChannelPeriod` and `EMAPeriod` to adjust the sensitivity of the channels and the EMA.
Overall, the indicator provides traders with a visual representation of price channels, an EMA trend reference, and signals for potential buy/sell opportunities and breakout points. It can be used as part of a trading strategy to identify trends, reversals, and potential entry/exit points in the market.
오픈 소스 스크립트
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.