LazyBear

Indicator: Custom COG channel

This is my custom channel (Bear Channel!? :)) derived from BB/ STARC . It uses both ATR/STDEV for plotting the bounds.

I use COG (Center of Gravity ) for deriving the baseline. This enables it to track the price action better than many other channels that make use of MAs or simply "close". Indicator also marks "squeezes" (stdev bands come inside ATR bands). Pay attention to these, as these usually indicate a move.

I am still exploring this indicator on different BTCUSD time frames, would love to hear your feedback / setups for other instruments.

Code for this indicator: http://pastebin.com/QXBJqAhA


Code for COG fibs I mentioned in the comments: http://pastebin.com/CbxY31at
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
//
// @author LazyBear
//
// This is my custom channel derived from BB/STARC. This uses both ATR/STDEV for plotting the bounds. 
// I use COG for the base line (normally it is SMA/EMA). 
// 
// If you use this code in its original/modified form, do drop me a note. 
//
study("COG Double Channel [LazyBear]", shorttitle="COGChannel_LB", overlay=true)
src = close
length = input(34)
median=0
mult=input(2.5)
offset = input(20)
tr_custom() => 
    x1=high-low
    x2=abs(high-close[1])
    x3=abs(low-close[1])
    max(x1, max(x2,x3))
    
atr_custom(x,y) => 
    sma(x,y)
    
dev = (mult * stdev(src, length))
basis=linreg(src, length, median)
ul = (basis + dev)
ll = (basis - dev)
tr_v = tr_custom()
acustom=(2*atr_custom(tr_v, length))
uls=basis+acustom
lls=basis-acustom

// Plot STDEV channel
plot(basis, linewidth=1, color=navy, style=line, linewidth=1, title="Median")
lb=plot(ul, color=red, linewidth=1, title="BB+", style=dashed)
tb=plot(ll, color=green, linewidth=1, title="BB-", style=dashed)
fill(tb,lb, silver, title="Region fill")

// Plot ATR channel
plot(basis, linewidth=2, color=navy, style=line, linewidth=2, title="Median")
ls=plot(uls, color=red, linewidth=1, title="Starc+", style=circles)
ts=plot(lls, color=green, linewidth=1, title="Star-", style=circles)
fill(ts,tb, green, title="Region fill")
fill(ls,lb, red, title="Region fill")

// Mark SQZ
plot_offs_high=2
plot_offs_low=2 
sqz_f=(uls>ul) and (lls<ll)
b_color=sqz_f ? teal : na
plot(sqz_f ? lls-plot_offs_low : na, color=b_color, style=cross, linewidth=2)
plot(sqz_f ? uls+plot_offs_high : na, color=b_color, style=cross, linewidth=2)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Kommentarer

Hey guys, i really like this one. Yet still i have problems figuring out how to make proper use of it. Can someone drop me a hint or a good source to a read about channels like this one? I haven't found anything sufficient yet.
+20 Svara
Buy straddles/strangle options when you see the blue crosses
+11 Svara
Kurbelklaus QuantitativeExhaustion
Ah thank you that helps :) Basically this was my problem since the squeeze only indicates a move but not the direction. I am just not sure if this is possible on BFX.
+1 Svara
Something like this works better for all symbols, rather than a hard set 2:

plot_offs_high=0.002
plot_offs_low=0.002
sqz_f=(uls>ul) and (lls<ll)
b_color=sqz_f ? teal : na
plot(sqz_f ? lls - (lls * plot_offs_low) : na, color=b_color, style=cross, linewidth=2)
plot(sqz_f ? uls + (uls * plot_offs_high) : na, color=b_color, style=cross, linewidth=2)
+9 Svara
LazyBear TheLark
agree, thx.
+7 Svara
TheLark LazyBear
NP, thanks for this and all the rest
+4 Svara
sublimares2 LazyBear
Can you update this tool with TheLark correction? I have no idea of how to do it. Thank you
+3 Svara
LazyBear sublimares2
Pastebin link I have given above has this.
+5 Svara
If only we had a screener to find these Sqz plays.
+2 Svara
Quick visual comparison of this channel with BB. Similar ATR comparison can be made too.

+8 Svara