Donchian Channels Oscillator
If we take the difference between Donchian Channels upper and lower, we can get a lot of information on the trend. I made it into a percentage and used a color system to make it easy to look at.
> green color = bullish trend
> red color = bearish trend
> white color = consolidation OR trend is about to change (low percentage)
The percentage value tells us about the strength of the trend. The highest, the strongest the trend is.
> green color = bullish trend
> red color = bearish trend
> white color = consolidation OR trend is about to change (low percentage)
The percentage value tells us about the strength of the trend. The highest, the strongest the trend is.
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Discord Server: discord.gg/RVwBkpnQzm
I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/