G-Channel Trend Detection — Indicator by jaggedsoft

Here we are demonstrating a different approach to trend analysis using AlexGrover's G-Channel. Using this method of trend detection, we will consider the asset bullish if it breaks through the upward bounds of the channel at any time, and consider it bearish once it breaks downwards.

We have also simplified coloring: If we're in an uptrend, we're only drawing from the upwards part of the channel to the midline. And if we're in a downtrend we're only drawing from the downward part of the channel to the midline.

Created by AlexGrover

G-Channels - Efficient Calculation Of Upper/Lower Extremities

Release Notes:

Renamed to G-Trend and decreased line width

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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