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TeddiQuail

Stochastic Channels

TeddiQuail  
Donchian Channels (DC) Stochastic Oscillator Trend Analysis breakout rangebound donchain
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donchianchannels stochastic trendanalysis breakout rangebound donchain
Donchain trend following system with overbought/ oversold areas inspired by stochastic. Multiplier to get non repainting HTF capability. features a smoothed price as well as moving average of the smoothed price, also inspired by the stochastic indicators %K and %D. This and slow stochastics compliment each other nicely.

%D line colored by direction.

Filled color areas represent overbought/oversold.
Shows breakouts as well as giving targets and entries in rangebound markets.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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