OPEN-SOURCE SCRIPT
Donchian Channels Osciliator with MA validation
What's it all about?
This nifty little tool, the Donchian Channels Oscillator, helps you spot when a stock might be overbought or oversold. It's like a price detective, looking for clues in the historical data to figure out if it's time to buy or sell.
How does it work?
Think of it as a seesaw. When the price is way above the Donchian Channels, it's like the seesaw is tilted too far to one side. That might mean it's time to sell before it falls. On the other hand, if the price is way below the channels, it's like the seesaw is tilted too far to the other side. This could be a good sign to buy, as the price might be ready to bounce back.
Key Points:
Donchian Channels: These are like safety nets. They're calculated based on the highest and lowest prices over a certain period.
Oscillator: This is just a fancy word for a tool that swings back and forth. In this case, it swings between overbought and oversold zones.
EMA-Line: This is a smoothed-out version of the oscillator. It helps you see the overall trend more clearly.
How to Use It:
Add it to your chart: Find it in the indicator search bar.
Adjust settings: You can tweak the length of the Donchian Channels and the offset to fit your trading style.
Watch the swings: When the oscillator goes way up, it might be time to sell. When it goes way down, it might be time to buy. But always use this with other indicators for confirmation.
Remember: This is just a tool, not a magic crystal ball. Don't rely solely on it for trading decisions. Always do your own research and consider other factors.
Happy trading!
This nifty little tool, the Donchian Channels Oscillator, helps you spot when a stock might be overbought or oversold. It's like a price detective, looking for clues in the historical data to figure out if it's time to buy or sell.
How does it work?
Think of it as a seesaw. When the price is way above the Donchian Channels, it's like the seesaw is tilted too far to one side. That might mean it's time to sell before it falls. On the other hand, if the price is way below the channels, it's like the seesaw is tilted too far to the other side. This could be a good sign to buy, as the price might be ready to bounce back.
Key Points:
Donchian Channels: These are like safety nets. They're calculated based on the highest and lowest prices over a certain period.
Oscillator: This is just a fancy word for a tool that swings back and forth. In this case, it swings between overbought and oversold zones.
EMA-Line: This is a smoothed-out version of the oscillator. It helps you see the overall trend more clearly.
How to Use It:
Add it to your chart: Find it in the indicator search bar.
Adjust settings: You can tweak the length of the Donchian Channels and the offset to fit your trading style.
Watch the swings: When the oscillator goes way up, it might be time to sell. When it goes way down, it might be time to buy. But always use this with other indicators for confirmation.
Remember: This is just a tool, not a magic crystal ball. Don't rely solely on it for trading decisions. Always do your own research and consider other factors.
Happy trading!
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。