[RS]Adaptive Range Channel V0 — Indicator by RicardoSantos

experimental mean parallelchannel fibonacci range

EXPERIMENTAL:
center is based on the mean of price on X bars lookback window, channel width is determined buy maximum volatility from the mean outwards(to the extremes).

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.

Disclaimer

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Want to use this script on a chart?

//@version=2
study(title='[RS]Adaptive Range Channel V0', shorttitle='ARC', overlay=true)
window = input(title='Lookback Window:', type=integer, defval=100)
src = input(title='Source Data:', type=source, defval=close)
//Alternative Version:
//m = na(m[1]) ? close : (percentile_linear_interpolation(close , 100, 50)+m[1])*0.5
m = na(m[1]) ? close : percentile_linear_interpolation(src , window, 50)
t = na(t[1]) ? 0 : max(t[1], high-m)
b = na(b[1]) ? 0 : min(b[1], low-m)

plot(title='+1.000', series=m+t, color=black, linewidth=2)
plot(title='+0.764', series=m+t*0.764, color=maroon, linewidth=1)
plot(title='+0.618', series=m+t*0.618, color=red, linewidth=1)
plot(title='+0.500', series=m+t*0.500, color=orange, linewidth=1)
plot(title='+0.382', series=m+t*0.382, color=gray, linewidth=1)
plot(title='+0.236', series=m+t*0.236, color=silver, linewidth=1)
plot(title='0.000', series=m, color=black, linewidth=2)
plot(title='-0.236', series=m+b*0.236, color=silver, linewidth=1)
plot(title='-0.382', series=m+b*0.382, color=gray, linewidth=1)
plot(title='-0.500', series=m+b*0.500, color=olive, linewidth=1)
plot(title='-0.618', series=m+b*0.618, color=lime, linewidth=1)
plot(title='-0.764', series=m+b*0.764, color=green, linewidth=1)
plot(title='-1.000', series=m+b, color=black, linewidth=2)