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OPEN-SOURCE SCRIPT

High - Low Trend Tunnel

By dman103
Updated
High - Low Trend Tunnel Experiment.

Using latest pinescript Array support!

Plotting Highest highs and Lowest lows for specific length (can be defined in settings).
The blue line is whom determinate the direction.
Blue line is the average of the highest highs and lowest lows smoothed by EMA.

Green - Up Trending.
Red - Down Trending.
Yellow - Squeeze, a reversal might be coming.

Any suggestions/comments are welcome as this is an experiment.



Release Notes
* Trend plot is now colored.
* Changed ATR default value from 17 to 14
Release Notes
Option to disable view of tunnel.
Added additional (optional) Arnaud Legoux Moving Average (ALMA) besides EMA.
Release Notes
Minor cleanup
High-Low IndexTrend Analysistunnel
dman103
Appreciation of my work: paypal.me/dman103
Premium Pivot Points Algo Indicator: tradingview.com/script/LFBaHNuA-Pivot-Points-Algo/
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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.

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