OPEN-SOURCE SCRIPT
FiboDonchian
Donchian channels were developed by Richard Donchian, the father of trend following. The two outer bands are plotted as the highest high and lowest low for a set period of time.
In the FiboDonchian, the channel is divided into 3 zones according to Fibonacci levels:
0-0.382 (Bullish Zone)
0.382-0.618 (Neutral Zone)
0.618-1(Bearish Zone)
These levels will usually act as support and resistance during trends, and will reverse depending on the direction of the trend (e.g. in an uptrend the .382 is above the .5 and during a downtrend it is below).
An option to color candles according to the trend is given, with the following logic:
-During uptrends, candles will turn bullish when a new high is made and will remain in this state as long as price closes in the upper zone. Below this zone price turns neutral until a new high or low is made.
-During downtrends, candles will turn bearish when a new low is made and will remain like this provided that price closes in the lower zone. Above this zone price turns neutral until a new low or high is made.
Enjoy!!
In the FiboDonchian, the channel is divided into 3 zones according to Fibonacci levels:
0-0.382 (Bullish Zone)
0.382-0.618 (Neutral Zone)
0.618-1(Bearish Zone)
These levels will usually act as support and resistance during trends, and will reverse depending on the direction of the trend (e.g. in an uptrend the .382 is above the .5 and during a downtrend it is below).
An option to color candles according to the trend is given, with the following logic:
-During uptrends, candles will turn bullish when a new high is made and will remain in this state as long as price closes in the upper zone. Below this zone price turns neutral until a new high or low is made.
-During downtrends, candles will turn bearish when a new low is made and will remain like this provided that price closes in the lower zone. Above this zone price turns neutral until a new low or high is made.
Enjoy!!
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@FractalTrade_
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オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
@FractalTrade_
免責事項
この情報および投稿は、TradingViewが提供または推奨する金融、投資、トレード、その他のアドバイスや推奨を意図するものではなく、それらを構成するものでもありません。詳細は利用規約をご覧ください。