LazyBear

Indicator: Custom COG channel

This is my custom channel ( Bear Channel!? :)) derived from BB/STARC. It uses both ATR/STDEV for plotting the bounds.

I use COG (Center of Gravity             ) for deriving the baseline. This enables it to track the price action better than many other channels that make use of MAs or simply "close". Indicator also marks "squeezes" (stdev bands come inside ATR bands). Pay attention to these, as these usually indicate a move.

I am still exploring this indicator on different BTCUSD             time frames, would love to hear your feedback / setups for other instruments.

Code for this indicator: http://pastebin.com/QXBJqAhA


Code for COG fibs I mentioned in the comments: http://pastebin.com/CbxY31at
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//
// @author LazyBear
//
// This is my custom channel derived from BB/STARC. This uses both ATR/STDEV for plotting the bounds. 
// I use COG for the base line (normally it is SMA/EMA). 
// 
// If you use this code in its original/modified form, do drop me a note. 
//
study("COG Double Channel [LazyBear]", shorttitle="COGChannel_LB", overlay=true)
src = close
length = input(34)
median=0
mult=input(2.5)
offset = input(20)
tr_custom() => 
    x1=high-low
    x2=abs(high-close[1])
    x3=abs(low-close[1])
    max(x1, max(x2,x3))
    
atr_custom(x,y) => 
    sma(x,y)
    
dev = (mult * stdev(src, length))
basis=linreg(src, length, median)
ul = (basis + dev)
ll = (basis - dev)
tr_v = tr_custom()
acustom=(2*atr_custom(tr_v, length))
uls=basis+acustom
lls=basis-acustom

// Plot STDEV channel
plot(basis, linewidth=1, color=navy, style=line, linewidth=1, title="Median")
lb=plot(ul, color=red, linewidth=1, title="BB+", style=dashed)
tb=plot(ll, color=green, linewidth=1, title="BB-", style=dashed)
fill(tb,lb, silver, title="Region fill")

// Plot ATR channel
plot(basis, linewidth=2, color=navy, style=line, linewidth=2, title="Median")
ls=plot(uls, color=red, linewidth=1, title="Starc+", style=circles)
ts=plot(lls, color=green, linewidth=1, title="Star-", style=circles)
fill(ts,tb, green, title="Region fill")
fill(ls,lb, red, title="Region fill")

// Mark SQZ
plot_offs_high=2
plot_offs_low=2 
sqz_f=(uls>ul) and (lls<ll)
b_color=sqz_f ? teal : na
plot(sqz_f ? lls-plot_offs_low : na, color=b_color, style=cross, linewidth=2)
plot(sqz_f ? uls+plot_offs_high : na, color=b_color, style=cross, linewidth=2)
Something like this works better for all symbols, rather than a hard set 2:

plot_offs_high=0.002
plot_offs_low=0.002
sqz_f=(uls>ul) and (lls<ll)
b_color=sqz_f ? teal : na
plot(sqz_f ? lls - (lls * plot_offs_low) : na, color=b_color, style=cross, linewidth=2)
plot(sqz_f ? uls + (uls * plot_offs_high) : na, color=b_color, style=cross, linewidth=2)
+3 Reply
agree, thx.
+6 Reply
TheLark PRO LazyBear
NP, thanks for this and all the rest
+2 Reply
sublimares2 LazyBear
Can you update this tool with TheLark correction? I have no idea of how to do it. Thank you
+2 Reply
LazyBear PRO sublimares2
Pastebin link I have given above has this.
+4 Reply
If only we had a screener to find these Sqz plays.
Reply
Quick visual comparison of this channel with BB. Similar ATR comparison can be made too.

snapshot
+6 Reply
This works great!
+4 Reply
Thanks!!! Expected indicator!
+1 Reply
yw :)
+4 Reply
Thanks a lot! Once again really great work from you :)
+1 Reply
LazyBear PRO Kurbelklaus
Thx.
+4 Reply
What about a fibo bear channel like this one ;)
snapshot
+2 Reply
A similar Fib channel, based on COGs though

snapshot
+5 Reply
magarto LazyBear
Thanks again ;)
+1 Reply
Great- super great- can you post the code for the Fibo channel? Thank you
+1 Reply
LazyBear PRO sublimares2
Thx. Code: http://pastebin.com/CbxY31at
+4 Reply
Thank you for this tool- so expected . Here is in action on AAPL:)
+2 Reply
sublimares2 sublimares2
snapshot
+6 Reply
Applied your indicator to NVIDA, it says a move is coming . I agree. Thank you !!

snapshot
+5 Reply
LazyBear PRO littleriver
Nice. BTW, you may want to use the code I have given in the link -- http://pastebin.com/QXBJqAhA <-- this has the suggested changes from @TheLark.
+5 Reply
Hey guys, i really like this one. Yet still i have problems figuring out how to make proper use of it. Can someone drop me a hint or a good source to a read about channels like this one? I haven't found anything sufficient yet.
+2 Reply
Buy straddles/strangle options when you see the blue crosses
+2 Reply
Kurbelklaus PRO QuantitativeExhaustion
Ah thank you that helps :) Basically this was my problem since the squeeze only indicates a move but not the direction. I am just not sure if this is possible on BFX.
Reply
COG overlay is much better than Bollinger
Reply
Works Great!
Reply
I'm surprised this is not your most popular indicator.
Reply
LazyBear PRO QuantitativeExhaustion
:)

If you liked CogChannel, you will love the new tuned version.


snapshot
+2 Reply
You going to post/publish?
Reply
LazyBear PRO QuantitativeExhaustion
Planning to make this part of the package that I will be publishing to the TV store.

Here's a new oscillator derived from this channel.

snapshot
+2 Reply
Very nice. Noticing bands vs price chart and shows relative overbought/oversold and sqz helps determine timing
Reply
Once you get a sqz indication, need something that factors direction/trend. Bottom or top of Oscillator is not always telling.
Reply
Nice. Any idea when the store is going live? I am interested in publish some of my proprietary scripts too.
Reply
Zaloopa tradearcher
I'm interested as well!
Reply
LazyBear PRO tradearcher
Store is already live. You can contact support@tradingview.com regarding publishing your script there.
Reply
Great. Thank you.
Reply
MTF COG SQZ indicator with a function that allows a user to alternate three different time frames would be very helpful. If I see 1w 1d 4h all with Sqz indications I know its going to play out a big price move with a high probability. You can also use 5m 15m and 1h signals for confirming short burst
Reply
LazyBear PRO QuantitativeExhaustion
I do have MTF version of SQZ. Will add it to my to-publish queue.
Reply
forexopl LazyBear
Hi LazyBear,

Thanks for this indi, i am changing the offset within the settings, but it is not making any changes ? Could you please advise? Thanks!
Reply
Are you using the updated code from here - http://pastebin.com/CbxY31at ?? This has the fix for using the proper "offset" value.
Reply
VSh LazyBear
Hi LazyBear,

This pastebin is for your COGFibs, not for COGChannel. COGChannel still has no usage for offset. I believe you wanted to pass it to linreg instead of median. In this case 20 is too large for default, should be 0.
Reply
Why the median is set to 0? Thanks.
Reply
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