GNC got a little update:
1) Logic changed a bit.
I tried to calculate MAs based on the power(high - low of previous bars).You can see it the M-variables, as new statements were added in calculation section of MAs. I don't really know if I did right, because I didn't go too much in Pine Script. I just wanted to make a Bollinger-bands-like bands, which could...
Channel, made of 5 MAs, which a made this way: High of N-period SMA - Low of N-period SMA + X-period SMA (check the code), where N and X are defined by your input.
Main purpose: helps you understand in what range price can move.
WARNING!
HAS TO BE USED WITH OTHER INDICATORS TO HAVE MORE ACCURATE ENTRIES!!!
If the price is above or below the channel, it means...
