OPEN-SOURCE SCRIPT

Indicator: Custom COG channel

This is my custom channel (Bear Channel!? :)) derived from BB/STARC. It uses both ATR/STDEV for plotting the bounds.

I use COG (Center of Gravity) for deriving the baseline. This enables it to track the price action better than many other channels that make use of MAs or simply "close". Indicator also marks "squeezes" (stdev bands come inside ATR bands). Pay attention to these, as these usually indicate a move.

I am still exploring this indicator on different BTCUSD time frames, would love to hear your feedback / setups for other instruments.

Code for this indicator: pastebin.com/QXBJqAhA

[Update: 04/20/14]
Code for COG fibs I mentioned in the comments: pastebin.com/CbxY31at