VWMA Donchian Channels

Plots Donchian Channel based on VWMA. Trend strength analysis tool.

Note that the VWMA is based on the ohlc not the close.

Strong trends will break out of this channel consolidation will remain inside of the channel. The Channel Midline may be a good bull bear indicator.

As with most trend indicators longer timeframes for the market you are trading will be best. But this can work on all chart time frames