OPEN-SOURCE SCRIPT
Updated Cowen Corrirdor Clone
As a fun exercise, I tried to clone Ben Cowen's Corridor!
The formulas for the boundaries are available on his website which are quoted at the top of the script. I couldn't get the boundaries to fit in the same way, but I found a quick and dirty solution in using Euler's number as a multiplier. That got the bands to fit close enough.
Be aware that the original indicator was made by Ben as a joke to show the ease at which a model can be made. This script further deviates from the original in using an altered formula. As such, there is no validity to the model and you shouldn't use it for trading. It's nice to look at though :D
The formulas for the boundaries are available on his website which are quoted at the top of the script. I couldn't get the boundaries to fit in the same way, but I found a quick and dirty solution in using Euler's number as a multiplier. That got the bands to fit close enough.
Be aware that the original indicator was made by Ben as a joke to show the ease at which a model can be made. This script further deviates from the original in using an altered formula. As such, there is no validity to the model and you shouldn't use it for trading. It's nice to look at though :D
Release Notes
- Boundaries fitted more accurately using e - 0.1
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.