Donchian Channel - Pivot High-Low

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
  

發布通知:

Added pivot L and R option