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- //
- // @author LazyBear
- //
- // This is my custom channel derived from BB/STARC. This uses both ATR/STDEV for plotting the bounds.
- // I use COG for the base line (normally it is SMA/EMA).
- //
- // If you use this code in its original/modified form, do drop me a note.
- //
- study("COG Double Channel [LazyBear]", shorttitle="COGChannel_LB", overlay=true)
- src = close
- length = input(34)
- median=0
- mult=input(2.5)
- offset = input(20)
- tr_custom() =>
- x1=high-low
- x2=abs(high-close[1])
- x3=abs(low-close[1])
- max(x1, max(x2,x3))
- atr_custom(x,y) =>
- sma(x,y)
- dev = (mult * stdev(src, length))
- basis=linreg(src, length, median)
- ul = (basis + dev)
- ll = (basis - dev)
- tr_v = tr_custom()
- acustom=(2*atr_custom(tr_v, length))
- uls=basis+acustom
- lls=basis-acustom
- // Plot STDEV channel
- plot(basis, linewidth=1, color=navy, style=line, linewidth=1, title="Median")
- lb=plot(ul, color=red, linewidth=1, title="BB+", style=dashed)
- tb=plot(ll, color=green, linewidth=1, title="BB-", style=dashed)
- fill(tb,lb, silver, title="Region fill")
- // Plot ATR channel
- plot(basis, linewidth=2, color=navy, style=line, linewidth=2, title="Median")
- ls=plot(uls, color=red, linewidth=1, title="Starc+", style=circles)
- ts=plot(lls, color=green, linewidth=1, title="Star-", style=circles)
- fill(ts,tb, green, title="Region fill")
- fill(ls,lb, red, title="Region fill")
- // Mark SQZ
- plot_offs_high=0.002
- plot_offs_low=0.002
- sqz_f=(uls>ul) and (lls<ll)
- b_color=sqz_f ? teal : na
- plot(sqz_f ? lls - (lls * plot_offs_low) : na, color=b_color, style=cross, linewidth=2)
- plot(sqz_f ? uls + (uls * plot_offs_high) : na, color=b_color, style=cross, linewidth=2)
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