Midas_Channel
Update: As you can see last channel is anchored wrong and I dont know how to edit that picture:) So here is the corrected one
https://www.tradingview.com/e/PMhbcHQY/
Middle Line : Traditional MIDAS line calculated with hl2
Lower Line: MIDAS line calculated with low values
Upper Line: MIDAS line calculated with high values
https://www.tradingview.com/e/PMhbcHQY/
Middle Line : Traditional MIDAS line calculated with hl2
Lower Line: MIDAS line calculated with low values
Upper Line: MIDAS line calculated with high values
// Akif TOKUZ
// akifusenet@gmail.com
// MIDAS Channel
study("Midas Channel", overlay=true)
startBar=input(title="Starting Bar Number",minval=1,maxval=100000,defval=20)
start = (n==startBar-1)
v = na(volume) ? 1 : volume
cumV = cum(v)
CumPV = cum(hl2*v)
SupportCumPV = cum(low*v)
ResistanceCumPV = cum(high*v)
startV = valuewhen(start,cumV,0)
StartPV = valuewhen(start,CumPV,0)
SupportStartPV = valuewhen(start,SupportCumPV,0)
ResistanceStartPV = valuewhen(start,ResistanceCumPV,0)
Midas = (CumPV-StartPV)/(cumV-startV)
SupportMidas = (SupportCumPV-SupportStartPV)/(cumV-startV)
ResistanceMidas = (ResistanceCumPV-ResistanceStartPV)/(cumV-startV)
middle = plot(Midas, color=aqua,linewidth=2)
lower = plot(SupportMidas, color=blue,linewidth=1)
upper = plot(ResistanceMidas, color=red,linewidth=1)
fill(lower,upper,color=#1c86ee,transp=80)
