G-Channels For ThinkOrSwim

[autoloader]

The author states:
Channels indicators are widely used in technical analysis, they provide a lot of information.
To use this indicator:
When both extremities follow the same direction, the average will also do the same, when both follow an opposite direction then the average will be equal to its precedent value,

An interesting take on channels:
https://www.tradingview.com/script/...cient-Calculation-Of-Upper-Lower-Extremities/

 

[samer800]

An interesting take on channels:
https://www.tradingview.com/script/...cient-Calculation-Of-Upper-Lower-Extremities/

check the below:

#https://www.tradingview.com/v/fIvlS64B/
#/@alexgrover
#study("G-Channels",overlay=true)
# Converted by Sam4Cok@Samer800    - 03/2024
input src = close;
input length = 100;

def na = Double.NaN;
DefineGlobalColor("band", CreateColor(33,150,243));
DefineGlobalColor("avg", CreateColor(255,152,0));
script nz {
    input src = close;
    input rep = 0;
    def nz = if (isNaN(src) or src==0) then rep else src;
    plot out = nz;
}
def b;
def a = Max(src, nz(a[1])) - nz(a[1] - b[1]) / length;
    b = Min(src, nz(b[1], src)) + nz(a[1] - b[1]) / length;
def avg = (a + b) / 2;

#//----
plot upper = if a then a else na ; #,"Upper",color=color.blue,linewidth=2,transp=0)
plot Average = if avg then avg else na; #,"Average",color=color.orange,linewidth=2,transp=0)
plot Lower = if b then b else na; #,"Lower",color=color.blue,linewidth=2,transp=0)
upper.SetLineWeight(2);
Lower.SetLineWeight(2);
upper.SetDefaultColor(GlobalColor("band"));
Average.SetDefaultColor(GlobalColor("avg"));
Lower.SetDefaultColor(GlobalColor("band"));


#-- END of CODE

and the below with additional options:

# https://www.tradingview.com/v/smADlDdP/
#//@jaggedsoft
#//Full credit to AlexGrover:
#study("G-Channel Trend Detection",shorttitle="G-Trend",overlay=true)
# Converted by Sam4Cok@Samer800    - 03/2024
input showCross = yes;
input src = close;
input length = 100;
input useMovAvgFilter = yes;
input movAvgType = AverageType.EXPONENTIAL;
input movAvgLength = 200;
input showMovAvgLine = yes;

def na = Double.NaN;
def ma = MovingAverage(movAvgType, src, movAvgLength);

def a; def b;
def a1 = if a[1] then a[1] else src;
def b1 = if b[1] then b[1] else src;
    a = max(src, a1) - (a1 - b1)/length;
    b = min(src, b1) + (a1 - b1)/length;
def avg = (a + b)/2;

def crossUp = b[1] <= close[1] and b > close;
def crossDn = a[1] <= close[1] and a > close;
def cdnUp = if crossUp then 0 else cdnUp[1] + 1;
def cdnDn = if crossDn then 0 else cdnDn[1] + 1;

def SigUp = if useMovAvgFilter then avg < ma else yes;
def SigDn = if useMovAvgFilter then avg > ma else yes;
def bullish = cdnDn <= cdnUp;
def bearish = cdnDn > cdnUp;

def p1 = avg;
def p2 = ohlc4;

plot MovAvg = if showMovAvgLine then ma else na;
MovAvg.SetDefaultColor(Color.CYAN);

AddCloud(if Bullish or Bullish[-1] then p1 else na, p2, Color.DARK_GREEN, Color.DARK_GREEN, yes);
AddCloud(if bearish or bearish[-1] then p1 else na, p2, Color.DARK_RED, Color.DARK_RED, yes);

AddChartBubble(showcross and bullish and !bullish[1] and SigUp, p1, "Buy", Color.GREEN, no);
AddChartBubble(showcross and bearish and !bearish[1] and SigDn , p1, "Sell", Color.RED);

#-- END of CODE

 

[serendipity2020]

Hello @samer800
Appreciate if you can convert below G-Channel-Trend-Detection TradingView indicator
https://www.tradingview.com/script/smADlDdP-G-Channel-Trend-Detection/

It uses AlexGrover's G-Channel to analyze trend. Stock is bullish if it breaks through the upward bounds of the channel at any time, and consider it bearish once it breaks downwards.

Thanks

 

[Splinter]

I believe it may have been converted already.
See if this works.
https://usethinkscript.com/threads/g-channels-for-thinkorswim.18125/