INVITE-ONLY SCRIPT
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Gregoire Channel

545
Why hasn't someone made an indicator that can tell the difference between a trend and trading range? RSI gets butchered in a trend, and MACD gets annihilated in a trading range. Wells Wilder Jr. tried to make a complete system with the Directional Movement System, but the results weren't great. I think I've found the solution in the Gregoire Channel.

Based on a Donchian Channel, we're plotting dynamic support and resistance. In addition, there's calculations made to determine if price is trending or ranging:

GREEN bars: price is trending up
RED bars: price is trending down
GRAY bars: price is in a trading range

The trader can use this information as they please, but I've also included complete systems with alerts for automated trading:

Trend Following
Trend Following (long only)
Volatility Breakout
Volatility Breakout (long only)

Trend Following stays in the trade until the trend changes. This is best on securities with historically strong trends, like the stock market indexes or BTC.

Volatility Breakouts attempt to capture just the trending phases and is defensive in nature. This system is best for low-liquidity securities (alt-coins, penny stocks) or stuff that doesn't trend often (forex).

Long Only modes were added for people that don't want to short anything that has gone up for 100+ years (stock market) or people located in the US who only have the ability for long-only strategies (crypto).

TO SET UP ALERTS: Select the system you want in the indicator settings (Trend, Trend - long only, Volatility, Volatility - long only), then add an alert with the Gregoire Channel. I prefer to alert "on bar close". NOTE: TradingView will warn you this is a repainting indicator, but that's false! The script uses a variable (bar_index) that triggers the repainting warning no matter what. It's a known issue with developers (
How to avoid repainting when NOT using security()

릴리즈 노트
Use the link below to get this indicator, plus the Gregoire Channel Strategy and Gregoire Channel Width!
릴리즈 노트
Added tooltips, removed unnecessary/confusing customization options.

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