DC Panel — Indicator by kruskakli

Presenting a an indicator based around a Donchian Channel.

The panel has 7 rows where each cell can be either green (long), red (short) or gray (nothing).

Suggestion: Enter (on your own risk...) a trade when all columns have the same color; Exit when any, but the top, column switch color.

The Panel consists of the following, from top to bottom:

1. Price hits the edge of the DC-channel.
2. Price is on the right side of the DC-average line.
3. Price is on the right side of the Baseline
4. PVI is on the right side of the PVI-signal line.
5. Wave-A
6. Wave-B
7. Wave-C

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?