EXPERIMENTAL: using Donchian channels with diferent lengths to extract multiple time frame's to extract price in range rates. the title may be a tiny bit misleading tho -_-''
update: reversed colors, joined the line zone space to make the waves visually stand out more.
update: reversed colors, joined the line zone space to make the waves visually stand out more.
study("[RS]MTF Donchian Range Wave Sync V1") wavesynth(_length)=> _hh = highest(_length) _ll = lowest(_length) _range = _hh - _ll _value = hl2 - _ll _rate = _value/_range smooth = input(4) wave0 = ema(ema(wavesynth(8), smooth), smooth) wave1 = ema(ema(wavesynth(21), smooth), smooth) wave2 = ema(ema(wavesynth(55), smooth), smooth) wave3 = ema(ema(wavesynth(144), smooth), smooth) wave4 = ema(ema(wavesynth(377), smooth), smooth) wave5 = ema(ema(wavesynth(987), smooth), smooth) os_value = 0.25 ob_value = 0.75 hline(0, color=black) plot(0.0+wave0, style=line, color=wave0 < os_value ? maroon : wave0 > ob_value ? green : gray, linewidth=2) plot(0.5+wave1, style=line, color=wave1 < os_value ? maroon : wave1 > ob_value ? green : gray, linewidth=2) plot(1.0+wave2, style=line, color=wave2 < os_value ? maroon : wave2 > ob_value ? green : gray, linewidth=3) plot(1.5+wave3, style=line, color=wave3 < os_value ? maroon : wave3 > ob_value ? green : gray, linewidth=3) plot(2.0+wave4, style=line, color=wave4 < os_value ? maroon : wave4 > ob_value ? green : gray, linewidth=4) plot(2.5+wave5, style=line, color=wave5 < os_value ? maroon : wave5 > ob_value ? green : gray, linewidth=4) hline(3.5, color=black)