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)
Hi, can i use it for daily chart stock market?
thank you .
Reply
Why the median is set to 0? Thanks.
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.
+1 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
+3 Reply
You going to post/publish?
Reply
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