High and Low Envelope channel with median line and 'sigma' offsets to try and encapsulate price flow and quickly locate likely areas of support and resistance on the fly.
Hi JayRogers,
hope you are doing well
would request you to please explain a bit more about the indicator, how it works, what are these lines for, what are the buy signals and what are the sell signals.
Thanks !
In this script, I made the addition of the "Sigma" which are a 1/8 fraction of the total width, with a user adjustable multiplier to tighten or expand them. While the price crossing the median may not signify a trend change, the price crossing the opposing sigma often does:
The Sigma band can be used as a good locator for new positions in an overall trend also.
rapira34c
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The sigmas are a nice addition to the classical Donchian Channels. Like it
GrimReaper_
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I like the idea of median and sigma that you have here, might be useful on spotting ranging market. Cheers Jay!
hope you are doing well
would request you to please explain a bit more about the indicator, how it works, what are these lines for, what are the buy signals and what are the sell signals.
Thanks !