Donchian Channel Trend Intensity [DW]

This is an experimental study designed to analyze trend intensity using two Donchian Channels .
The DCTI curve is calculated by comparing the differences between Donchian highs and lows over a major an minor period, and expressing them as a positive and negative percentage.
The curve is then smoothed with an exponential moving average to provide a signal line.

Custom bar colors included with two coloring methods to choose from.
Release Notes: Updates:

Cleaned up the code. Condensed the operations into a function.

Bar color selection is now an easy to use dropdown menu.

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Skript med en öppen källkod

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.

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