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OPEN-SOURCE SCRIPT

High-Low Difference Channels - SMA/EMA

By JayRogers
Updated
I wrote this up as a potential replacement for my BB based strategies, and so far it's looking pretty nice.

Description / Usage:
  • Adjust length and multiplier much the same way you would expect with Bollinger Bands.
  • Multiplier of 1 gives you a base channel consisting of one high, and one low sourced SMA (or EMA)
  • The outer channels are increments of the base channels width, away from the median hl2 sourced SMA (..or EMA)
Comment
New revision here, with more MA options than you can shake a stick at:
High-Low Difference Channels r2
Comment
Final revision done.

Added (optional) select-able fixed resolutions, so you can have 1 hour bands on your 1 minute chart if you do so feel inclined.

Otherwise just some minor code cleaning and proper commenting:
High-Low MA Difference Channels [Final]
differenceExponential Moving Average (EMA)highLOWMoving AveragesParallel ChannelPrice Channelssr

Open-source script

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