Donchian Channel - Pivot High-Low

Trendoscope Wizard Updated   
Combining Pivot High Low and Donchian Channel - both of which are useful indicators for trend following.

Donchian Channel shows highest and lowest prices for X number of bars.
Pivot High-Low identifies when price made new Highs and Lows

Applying Donchian Channel on Pivot High-Low channel, we are plotting highest and lowest pivots formed in X bars.

In this indicator, we have 3 options for Channel Base:

  • Price : This is regular Donchian channel based on High-Low Price
  • Pivots : This is Donchian channel based on pivot points.
  • Combined : Combines both. Takes highest of Price and Pivots for plotting high, lowest of Price and Pivots for plotting low
Release Notes:
Added pivot L and R option

Open-source script

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