OPEN-SOURCE SCRIPT
Adaptive Channel Breakout
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Introducing the "Adaptive Channel Breakout" indicator, an advanced charting tool that employs the acb function from the PeacefulIndicators library. This powerful indicator helps traders detect potential breakouts and trends by displaying an adaptive channel on the chart.
Key features of the Adaptive Channel Breakout indicator include:
Customizable input parameters: Adjust the moving average length, volatility length, and multiplier to suit your trading preferences and strategy.
Utilizes the acb function from the PeacefulIndicators library, which calculates the adaptive channel using a simple moving average (SMA) and standard deviation to measure volatility. The function also tracks the trend direction based on price crossovers and crossunders.
Clear visual representation: The adaptive channel is displayed as a linebr plot, with the color indicating the current trend direction (green for uptrends and red for downtrends).
Trend signals: The indicator includes up and down arrow labels that signify potential trend reversals, providing traders with valuable entry and exit points.
Overlay functionality: Designed to be displayed directly on the price chart for easy analysis and correlation with price action.
To use the Adaptive Channel Breakout indicator, simply add the script to your chart and customize the input parameters as needed.
Key features of the Adaptive Channel Breakout indicator include:
Customizable input parameters: Adjust the moving average length, volatility length, and multiplier to suit your trading preferences and strategy.
Utilizes the acb function from the PeacefulIndicators library, which calculates the adaptive channel using a simple moving average (SMA) and standard deviation to measure volatility. The function also tracks the trend direction based on price crossovers and crossunders.
Clear visual representation: The adaptive channel is displayed as a linebr plot, with the color indicating the current trend direction (green for uptrends and red for downtrends).
Trend signals: The indicator includes up and down arrow labels that signify potential trend reversals, providing traders with valuable entry and exit points.
Overlay functionality: Designed to be displayed directly on the price chart for easy analysis and correlation with price action.
To use the Adaptive Channel Breakout indicator, simply add the script to your chart and customize the input parameters as needed.
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