Current to BTC [Morty]This indicator helps you find strong bull altcoin, it shows the ratio of the current symbol to BTC.
Donchian Channels help to identify trends.
Alts Bull coins:
When BTC goes sideway, they pump first.
Alts Bear coins:
When BTC goes sideway, they move sideway.
When BTC goes down, they go down harder.
Канал Дончиана (DC)
ZigZag ChannelThis is recreation of Donchian Channel - Pivot High Low indicator present here:
But, instead of traditional pivot high lows, this is based on pivots created from zigzag indicator.
This indicator is created on top of existing Zigzag indicator using lines array:
Parameter HighLowLength refers to number of zigzag lines back which can be used to calculate top and bottom of donchian channel.
RSI+ChannelbandsThis Indicator displays a normal RSI with overbought/-sold lines which is calculated with donchian channels, pivot channel, bollinger bands and three horizontal lines.
You can averaged the channels, bands and h-lines in any combination or you can use just one of them for calculating the overbought/-sold lines.
The midline is colored in default settings in yellow for upptrending and blue for downtrending.
Adaptive Donchian ChannelThis is Slight modified version of Donchian channel. Only change here is, channels update only when there is breakout. If price keeps ranging within channel, it will not contract based on new highest and lowest range.
This can be used for identifying powerful breakouts post long consolidation and filter out fakeouts.
Value RangeHere is another attempt to chase value based on technical analysis.
This is extended version of PE range script published earlier.
Instead of just PE, this script contains several other factors which defines value. You can chose which factor to look at from input dialog:
Possible value factors included in this script are:
Price to Earnings
Price to Sales
Price to Book
PE - Forwarding
PS - Forwarding
Price to Cashflow
Enterprise Value to EBITDA
Enterprise Value to Cashflow
Some of these can be added to chart directly from financials. But, the script also calculate range based on donchian channel or bollinger bands. Instead of short periods, we are looking for periods in terms of years. Rest of things remain same.
Fat Side PathI got the idea for a narrow Donchian Channel with a short lookback period which closely follows the price fluctuation in which the sides of the channel have a thickness according to the range of the last touching candle.
Any channel, be it Donchian, Keltner, Bollinger Bands or Parallel, has an upside and a downside, touching the upside is a buy signal as this may initiate an uptrend, the downside a sell signal because a down trend may come.
This gave me the idea to make only the last touched side fat, thus creating visible switching between uptrend and downtrend. However this is ‘too digital’, as in practice also periods of no trend occur in which signaling a trend would give a false signal. In a Donchian channel (and also Bollinger Bands) such periods are marked by narrowing the channel. So I gave a no trend signal to the sides when the channel is narrower than a minimum width to call a trend. I gave the thing nice colours and proper default settings.
Use of the channel in trading.
I think this thing can be useful for swing trading. In channels two typical things may happen that should be noted by the trader, these are LB, Leaving the Border, which signals a trend reversal and FTT, Failure To Traverse, i.e. the price doesn’t manage to cross the channel to the other side. This affirms the trend. FTT’s are not expected in short lookback channels like this path (Sidenote: Fibonacci levels can be regarded as predictions where FTT’s may occur). The fat side indicates direction. Because somehow trends seem to end with a notable range extension, this channel sometimes produces a “Big Blob” where the trend reverses.
I intend to use this thing together with my Keltner Fibzones channel, where the zones serve as a ‘landscape’ in which the Fat Side Path meanders providing ‘comments’ on the short term price movements.
Donchian Channel - trend filterTrend filter created based on donchian channel. I am using my custom donchian channel as base for this indicator:
Concept is simple.
We count how many times price is hitting donchian channel top or bottom without hitting the other side and keep counter for both. Thus:
upCount is the number of times price hits donchian channel top without hitting bottom
downCount is the number of times price hits donchian channel bottom without hittin top
trendCountLimit is the minimum value of upCount or downCount to call it uptrend or downtrend.
donchain support&resistance levels [LM]Hello Traders,
I would like to introduce you donchain support&resistance levels. The idea is to look for important levels that are identified by donchain line, where donchain usualy spents a lot of time without any move usualy turns out to be good level for bounces.
Also note that when there is a big spread between first line and second line it usually leads to some pullback.
Here you have an example of big spread:
You are also able to show donchain lines and not only horizontals this you can find in settings:
Enjoy!
Custom FIBOThis script shows 3 Donchian Channel 78.6% and 21.4% intermediary level lines to perform trade analysis. Besides those 6 lines it also optionally shows Fibonacci's retracements with 100%, 127%, 162%, 200% and 262% for one of the Donchian channels.
The 3 Donchian Channels used have default lengths 72, 305 and 1292, calculated after the first length default value of 72. For each of the 3 Donchian Channels only an upper line, set by default at 78.6%, is plotted in green and its complement, set to 21.4%, is plotted in red. When the closing price is above 3 green lines, we say it is Forbidden to Sell ( PV ), and when the closing price is below 3 red lines, we say it is Forbidden to Buy ( PC ). Those conditions are flagged on the chart. These PV-PC conditions were, up to my knowledge, first proposed by Bo Williams.
Fibonacci's retracements are show for the Donchian Channel with length 72 by default, but it can be changed to any length. They are colored as fuchsia (100%), blue (127%), orange (162%), yellow (200%) and navy (262%).
CCT - CryptoCoin TraderEnglish:
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Mostly tested on Crypto Currencies
2 different usages for 2 different situations
For high volatity, use light color thick lines. Ignore the dark ones.
For standard, use dark and thick lines.Ignore the light ones.
When price bar's high hits the red line = sell
When price bar's lowhits the green line = buy
Wait for the lines keep horizontal before use it for signal.
Türkçe:
Çoğunlukla kripto para grafiklerinde test edilmiştir.
2 tip kullanımı vardır.
Volatil piyasa için açık renkli kalın çizgileri kullanın.
Normal piyasa için için koyu renkli ince çizgileri kullanın.
Fiyat barının yüksek değeri kırmızı çizgiye değdiğinde = sat
Fiyat barının düşük değeri yeşil çizgiye değdiğinde = al
Sinyal olarak kullanmak için, Çizgiler yataya bağlayana kadar bekleyin.
The Turtle Trading ChannelTurtle Rules:
To trade exactly like the turtles did, you need to set up two indicators representing the main and the failsafe system.
Set up the main indicator with TradePeriod = 20 and StopPeriod = 10 (A.k.a S1)
Set up the failsafe indicator with TradePeriod = 55 and StopPeriod = 20 (A.k.a S2)
The entry strategy using S1 is as follows
Buy 20-day breakouts using S1 only if last signaled trade was a loss.
Sell 20-day breakouts using S1 only if last signaled trade was a loss.
If last signaled trade by S1 was a win, you shouldn't trade -Irregardless of the direction or if you traded last signal it or not-
The entry strategy using S2 is as follows:
Buy 55-day breakouts only if you ignored last S1 signal and the market is rallying without you
Sell 55-day breakouts only if you ignored last S1 signal and the market is pluging without you
The turtles had a progressive position sizing approach that boosted their winnings. Once a trading decision has been made you should...
Enter the market with 2% risk. Place stop-loss 2ATR from the opening price.
If the position moves in your favor 1/2ATR, enter the market again with 2% risk and trail all stop-losses 2ATR from current price.
If the position moves in your favor 1/2ATR, enter the market again with 2% risk and trail all stop-losses 2ATR from current price.
If the position moves in your favor 1/2ATR, enter the market again with 2% risk and trail all stop-losses 2ATR from current price.
Stop adding to positions when 4 positions have been taken. (*** And see money management rule below)
The exit strategy is carried out using the line with the shortest period of the indicator:
Exit longs taken using S1 when price action closes below a 10-day low
Exit shorts taken using S1 when price action closes above a 10-day high
Exit longs taken using S2 when price action closes below a 20-day low
Exit shorts taken using S2 when price action closes avove a 20-day high
The turtles had very strict money management too. Initial position risk was 2%, but it decreased according to the current drawdown.
If the account had a 10% drawdown, the risk for each trade should decrease a 20%
If the account had a 20% drawdown, the risk for each trade should decrease a 40%.
If the account had a 30% drawdown, the risk for each trade should decrease a 60%.
So, if the account had a N% drawdown, the risk for each trade should decrease N*2%.
Spanish Traslation :
Reglas de las tortugas:
Para tradear exactamente como lo hacían las tortugas, debe configurar dos indicadores que representen el sistema principal y el de seguridad .
Configure el indicador principal con TradePeriod = 20 y StopPeriod = 10 (Aka S1 )
Configure el indicador de seguridad con TradePeriod = 55 y StopPeriod = 20 usando un color diferente. (También conocido como S2 )
La estrategia de entrada usando S1 es la siguiente
Compre rupturas de 20 días usando S1 solo si la última operación señalada fue una pérdida.
Venda rupturas de 20 días usando S1 solo si la última operación señalada fue una pérdida.
Si la última operación señalada por S1 fue una victoria, no debe operar, independientemente de la dirección o si la última operación la realizó o no.
La estrategia de entrada con S2 es la siguiente:
Compre rupturas de 55 días solo si ignoró la última señal S1 y el mercado se está recuperando sin usted
Venda rupturas de 55 días solo si ignoró la última señal S1 y el mercado se está disparando sin usted
Las tortugas tenían un enfoque de tamaño de posición progresivo que aumentó sus ganancias. Una vez que se haya tomado una decisión comercial, debe ...
Ingresar al mercado con un 2% de riesgo. Coloque el stop-loss 2ATR desde el precio de apertura.
Si la posición se mueve a su favor 1 / 2ATR, ingrese al mercado nuevamente con un 2% de riesgo y arrastre todos los stop-loss 2ATR del precio actual.
Si la posición se mueve a su favor 1 / 2ATR, ingrese al mercado nuevamente con un 2% de riesgo y arrastre todos los stop-loss 2ATR del precio actual.
Si la posición se mueve a su favor 1 / 2ATR, ingrese al mercado nuevamente con un 2% de riesgo y arrastre todos los stop-loss 2ATR del precio actual.
Deje de agregar posiciones cuando se hayan tomado 4 posiciones. (*** Y vea la regla de administración de dinero a continuación)
La estrategia de salida se realiza utilizando la línea de menor periodo del indicador:
Salga de largos tomados usando S1 cuando la acción del precio cierra por debajo de un mínimo de 10 días
Salga de los cortos tomados con S1 cuando la acción del precio cierre por encima de un máximo de 10 días
Salga de largos tomados usando S2 cuando la acción del precio cierra por debajo de un mínimo de 20 días
Salga de los cortos tomados con S2 cuando la acción del precio se cierre evite un máximo de 20 días
Las tortugas también tenían una administración de dinero muy estricta . El riesgo de la posición inicial fue del 2%, pero disminuyó de acuerdo con la reducción actual.
Si la cuenta tiene una reducción del 10%, el riesgo de cada operación debería disminuir un 20%.
Si la cuenta tiene una reducción del 20%, el riesgo de cada operación debería disminuir un 40%.
Si la cuenta tiene una reducción del 30%, el riesgo de cada operación debería disminuir un 60%.
Entonces, si la cuenta tiene una reducción del N%, el riesgo de cada operación debería disminuir N * 2%.
Donchian Channel - CustomThis is an extension to Donchian Channel - Pivot High Low indicator. Creating new version as the new type added isn't related to pivot high/low.
New type added is based on moving average. Instead of using highest and lowest of n bars, here, we are using lowest and highest of moving average of highs and lows for n bars.
Previous version of Donchian channel pivot points can be found here:
Donchian Zig-Zag [LuxAlgo]The following indicator returns a line bouncing of the extremities of a Donchian channel, with the aim of replicating a "zig-zag" indicator. The indicator can both be lagging or lagging depending on the settings user uses.
Various extended lines are displayed in order to see if the peaks and troughs made by the Donchian zig-zag can act as potential support/resistance lines.
User Settings
Length : Period of the Donchian channel indicator, higher values will return fewer changes of directions from the zig-zag line
Bounce Speed : Determine the speed of bounces made by the zig-zag line, with higher values making the zig-zag line converge faster toward the extremities of the Donchian channel.
Gradient : Determine whether to use a gradient to color the area between each Donchian channel extremities, "On" by default.
Transparency : Transparency of the area between each Donchian channel extremities.
Usage
It is clear that this is not a very common indicator to see, as such usages can be limited and very hypothetical. Nonetheless, when a bounce speed value of 1 is used, the zig-zag line will have the tendency to lag behind the price, and as such can provides crosses with the prices which can provide potential entries.
The advantage of this approach against most indicators relying on crosses with the price is that the linear nature of the indicator allows avoiding retracements, thus potentially holding a position for the entirety of the trend.
Altho this indicator would not necessarily be the most adapted to this kind of usage.
When using a bounce speed superior to 1, we can see the predictive aspects of the indicator:
We can link the peaks/troughs made by the zig-zag with the precedent ones made to get potential support and resistance lines, while such a method is not necessarily accurate it still allows for an additional to interpret the indicator.
Conclusions
We presented an indicator aiming to replicate the behaviour of a zig-zag indicator. While somehow experimental, it has the benefits of being innovative and might inspire users in one way or another.
OH2B Trading Indicator Ver2.0OH2B TRADING INDICATOR
The OH2B Trading Indicator is an indicator built for beginners.
It gives you entry points for BUY and SELL based on Trend Channel and Ema-Crossover.
It also gives you EXIT POINTS for taking profits based on the Average Directional Index and Relative Strength Index.
TRADING WITH OH2B INDICATOR
The OH2B Trading Indicator gives you entry points for BUY or SELL .
When the ema1 crosses above ema2, the trend channel will be painted GREEN in color, and a BUY signal will appear. = BUY
When the ema1 crosses below ema2, the trend channel will be painted RED in color, and a SELL signal will appear. = SELL
When a BUY or SELL signal appears on the chart, don't rush into any trade.
Please allow a few hours for confirmation of signals .
After confirmation, it is suggested to enter 50% first and another 50% near the Trendlines .
After entering a trade, please remember to set a stop-loss alert of an opposite signal.
To TAKE PROFIT , please follow the Triangles indicated on the chart
RED Triangles are the Take-Profit targets for the BUY (long) signal
GREEN Triangles are the Take-Profit targets for the SELL (short) signal
*After taking profit, please set a Stoploss to at least break-even level to protect your profits.
Often the price goes to the Trendlines after the signal, so keep some funds to increase the position or even open all position near the Trendlines , or use it for re-enter with SL after you closed position on TPs.
Setting alerts for Trade
Remember to set an alert so that you won't miss any opportunity.
TradingView will notify you immediately when a new signal pops up on the chart.
Tips for the beginners:
Recommended using the indicator at 1H - 2H Timeframe .
Recommended using the indicator for Spot Trading at both Crypto and Stock Market.
Do not use leverage above 5x.
No more than 5% of the deposit in one trade.
Do not rush into any trade when a new signal pops up, please allow a few hours for confirmation of signals.
AK collection area- Based on Coach AK formula of determining collection area of retracement stock.
- If price below collection area, collect in tranches.
Relative Channel BandwidthThis indicator uses different volatility channels - Bollinger Band, Donchian Channel and Keltner Channel width to measure volatility.
Indicator plots channel bandwidth percentage with respect to close price.
This is not same as Bollinger Percent B - which is measure of where price is with respect to band. Instead this indicator is similar to ATR Percent indicator published here:
Plotting is color coded to indicate volatility zone:
Red : Extreme volatility
Orange : High volatility
Lime : Low volatility
Green : Extreme low volatility
These levels are again derived by long period bollinger bands
Adoptive Supertrend - BandsAnother adoption of supertrend. This time based on different channels - Bollinger Band, Keltner Channel, Donchian Channel and Pivot point based Donchian channel.
When price hits top of bands, it is considered as start or continuation of uptrend. When price hits bottom of the band it is considered as start or continuation of downtrend. Hence, supertrend is drawn based on these calculations. Use ATR Periods and ATR Multiplier to create stops certain ATR away from band's top and bottom.
Other supertrend adoptions published are here:
Pivot point based donchian channel is published here:
Donchian Channel - Pivot High-LowCombining 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
Donchian DipThe Donchian Dip
This strategy is designed to look for good "Buy the Dip" entries on stocks that are clearly in a strong 1-year upward trend. If you do not know how to identify those stocks on your own please do not use this system or continue your education until you do. The Donchian Dip strategy was designed on the daily time frame but works amazingly well on both daily and weekly timeframes. It does still work on intraday charts also if the current trend on the daily chart is in a strong uptrend.
Chart Setup:
3-period Donchian Channel with a 1-period offset (hide basis)
Bollinger Bands with the default settings of 20/2 (display basis)
Entry Signals:
There are 3 different entry signals that will be printed on the chart that have similar underlying criteria but are ranked based on skill level just like ski slope skill levels! I recommend only taking green entries until you are familiar with the system and the stocks you are trading.
Green Easy Entry:
This is the safest buy the dip entry that is normally found at or near a large retracement bottom. You might get one or two bad entries but be persistent and eventually, a great entry will present itself!
These are the specifics for the conditions that trigger a Green entry if you want to know what they are:
1. The current bar is an up bar (green or white bar) and closed above the lower Donchian channel
2. Previous bar or 2 bars back closed below the lower Donchian channel
3. Previous bar or 2 bars back closed below the Bollinger Band Basis (20 SMA )
4. The low of the previous bar or 2 bars back was below the lower Bollinger Band
Blue Intermediate Entry:
This is a decent entry if you missed the green entry, want to add to an existing position, or are not sure it will pull back far enough to even give a green entry. I would suggest only trade these entries to add to an existing pyramid position or get back into a trade that you were recently stopped out of. However, on high-flying stocks like TSLA these signals and the Black Diamond entry signals might be the only ones you get for a long time. Also, on the weekly chart, Blue or Black entries are sometimes all you will get for a year or more.
These are the specifics for the conditions that trigger a Blue entry if you want to know what they are:
1. The current bar is an up bar (green or white bar) and closed above the lower Donchian channel
2. Previous bar or 2 bars back closed below the lower Donchian channel
3. Previous bar or 2 bars back closed below the Bollinger Band Basis (20 SMA )
Black Diamond Advanced Rule:
This is normally just a small pullback re-entry signal on a strong trending stock like TSLA ...trade with extreme caution!!! You have been warned but daredevils feel free to give it a shot. I sometimes do trade these entries if the market and sector of the stock I am trading are extremely bullish or if I am looking to add to a position but I use a conservative stop.
These are the specifics for the conditions that trigger a Black entry if you want to know what they are:
1. The current bar is an up bar (green or white bar) and closed above the lower Donchian channel
2. Previous bar or 2 bars back closed below the lower Donchian channel
3. Previous bar or 2 bars back closed above the Bollinger Band Basis (20 SMA )
Exit Criteria:
The goal of this strategy is to buy the dip and hold as long as possible...let's practice some Paytience and exercise those holding muscles! RLT!!!
So, we don't want to exit early but we also want to protect our profits somehow. We do this by using the built-in trailing stops that are defined by dots of three different shades of purple on the chart (feel free to change these in the settings). Simply move your trailing stop to the highest current dot price level. Do not move the trailing stop down ever even if a lower dot is printed later. These are simply the suggested trailing stops and definitely use your own judgment for exits but if you backtest this strategy enough you will most likely discover that in the long run, these trailing stops work really well.
I hope this strategy helps you to identify good "Buy the Dip" entries on stocks you love as well as trains you to hold your winners longer for bigger gains.
***HOW TO ADD TO YOUR CHARTS***
1) Click the "Add to Favorite Scripts" button
2) Go to a stock chart and click the "Indicators" icon at the top
3) Next, on the left, click the "Favorites" and then click the "Naked Put - Growth Indicator v2"
4) It should appear on your charts, and you can click the "gear" icon on the study to edit a few settings.
5) Read the release notes above so you understand how it works.
TradeChartist Donchian Channels Breakout Filter™TradeChartist Donchian Channels Breakout Filter is an elegant version of the classic Donchian Channels with few extra variations and option to filter breakouts based on user preferred Breakout price selection to generate Trade Entries.
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Features of ™TradeChartist Donchian Channels Breakout Filter
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Option to plot Donchian Channels of user preferred length, based on the Source price in addition to High/Low Donchian Channels.
Generates trade entries based on user preferred Breakout Price. For example, if the user prefers HL2 as breakout price, irrespective of the Donchian Channels type, trade entries are generated only when hl2 price (average of high/low) breaks out of the upper or lower band.
Option to plot background colour based on Breakout trend. The bull zones are filled with green background, the Bear zones are filled with red background and the bar that broke out is filled with orange background.
Option to colour price bars using Donchian Channels price trend. The Donchian Channels basis line is plotted using the same colours as coloured bars as default.
Alerts can be created for long and short entries using Once per Bar Close .
Note: This script does not repaint . To use the script for trade entries, wait for the bar close and use a second confirmator (includes fundamentals) based on asset type as some markets require users to have good pulse on the fundamentals as trading by Technicals/price action dynamic alone may not be safe.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Adaptive Donchian LinesThe Adaptive Donchian plots a line based on the average of the lowest low and highest high. I call it 'ADL'.
Maximum/Minimum lookback period defines the range where the adaptive length can move.
When the asset velocity increases the indicator shortens its lookback period.
When the asset velocity decreases the indicator lengthens its lookback period.
The higher value 'Percent of change' is, the more adaptive it will be, hench, Adaptive Donchian sensitivity increases to velocity changes.
You can select from two different types of signals "Above or Below Middle Line" and "Touching Bands".
"Above or Below Middle Line" gives a Buy signal if LOW is crossing over the middle line and Sell signal if HIGH is crossing under the middle line.
"Touching Bands" gives Buy signal if HIGH touches the upper band and Sell signal if LOW touches the lower band.
== Color for "Touching Bands" ==
Green: Low is above center line - Up trending.
Lighter Green: Close is above center line but Low is still below H/L line - Weaker up trend.
Red: High is below center line - Down trending.
Lighter Red: Close is below the center line but High is still above H/L line - Weaker down trend.
== Color for "Above or Below Middle Line" ==
Green: Low is above center line - Up trending.
Red: High is below center line - Down trending.
== Notes ==
Bar coloring is disabled by default.
Middle line can also act as a stop loss.
Like if you like and Enjoy!
Code is currently closed as it needs more cleaning and updates.
Feel free to comment and Follow to stay updated with upcoming scripts: www.tradingview.com
TrendLine ChannelsAbstract
This script provides a set of Trendline Channels which can be tighter than Donchian Channels.
This script computes the most suitable active upper and lower trendlines and updates them as soon as possible.
We can use it for breakout signals earlier than Donchian Channels.
Introduction
Channels are tools which can mark area of values of ranging markets.
Once the price leaves the original region, range traders may start admitting they are wrong and trigger trend.
Donchian Channels (misheard as Dungeon Channels) use the highest and the lowest price to define area of values.
When the price breakouts, it just like it got released from a dungeon.
However, waiting for the price making even higher or lower may be too late and risk reward ratio may be lower.
Trendlines can make the channels tighter and we can find earlier breakout signals.
Computing Trendline Channels
(1) Find the most active trendlines
In this script, a valid trendline connects two high values or two low values.
A high value means the highest value in a trading day.
A low value means the lowest value in a trading day.
In this script, every trendline does not crossover any bar but can exactly touch them.
The most flat trendline is taken. (one for upper and one for lower)
(2) Continue to use or Change a trendline
If there is a tighter trendline available, this script changes to use it.
If the previous active trendline is broken, this script re-computes the trendline available.
When this case happens, this script display with an another color.
Otherwise, this script continues using the previous trendline.
(3) Middle line
The middle line indicates the middle value between the upper and the lower.
Parameters
Length : how many days are used for computation. The default value is 16 just because 16=4*4, using binary characteristic.
x_go_on : If the previous trendline is not breakout and there are no tighter trendlines available, we continue use it.
Color Options
(1) Upper trendline (no update or tighter)
(2) Upper trendline (changed due to breakout)
(3) Middle line
(4) Lower trendline (no update or tighter)
(5) Lower trendline (changed due to breakout)
Conclusion
Trendline Channels can be tighter than Donchian Channels and evaluate earlier breakout signals.
Comparing to known auto trendline scripts, Trendline Channels is continuous.
Once a trendline is broken, Trendline Channels can instantly point out the next available one.
If you think the price movement is boring or you cannot have good risk reward ratio, you can go to an another timeframe.
Reference
How to trade with Donchian Channels
How to trade with Trendlines
