OPEN-SOURCE SCRIPT
Periodic Channel
This indicator try to create a channel by summing a re-scaled and readapted sinusoidal wave form to the price mean.
The length parameter control the speed of the sinusoidal wave form, this parameter is not converted to a sine wave period for allowing a better estimation, higher length's work better but feel free to try shorter periods.
The invert parameter invert the sinusoidal wave.
Each bands represent possible return points, the higher the band the higher the probability.
Inverted sin wave exemple
The performance of the indicator is subjective to the main estimation (blue line), select the parameter that best fit the blue line to the price.
Best ragards
The length parameter control the speed of the sinusoidal wave form, this parameter is not converted to a sine wave period for allowing a better estimation, higher length's work better but feel free to try shorter periods.
The invert parameter invert the sinusoidal wave.
Each bands represent possible return points, the higher the band the higher the probability.
Inverted sin wave exemple
The performance of the indicator is subjective to the main estimation (blue line), select the parameter that best fit the blue line to the price.
Best ragards
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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