Trend Channel [Gu5] — Indicator by gu5tavo71

simplemovingaverage sma200 range trendchange trendchannels coloredbars coloredsma smma200 vwmas

SMA 200 determines the trend
Bullish trend, green candles. Down trend, red candles.
If the market value is narrow to the SMA200 channel, yellow candles.
Setting recommended for SMA Range
BTCUSD = 100
EURUSD = 1000
SPX = 100
ETHUSD = 10

Release Notes:

Update to Pinescript v.4
Clean code
Channel changes color too

Release Notes:

bcolor change

Release Notes:

Channel change

Release Notes:

Clean code

Release Notes:

Now it is compatible with any market, without manual setting

Release Notes:

Clean code

Release Notes:

Upgrade v5.
Added multiple types of Moving Averages ('SMA', 'EMA', 'SMMA', 'WMA', 'VWMA')
Written according to PineCoders Coding Conventions for Pine
Multiple Time Frame Indicator or MTF
Not repaint
Change of license

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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