Try this formula -
//Adaptive price channel
Plot(C,"",colorBlack,styleCandle);
Lookback=20;
MaxLookback=Param("Max Lookback period",40,20,60,5);
MinLookback=Param("Min Lookback period",20,10,20,5);
Vol=StDev(C,30);
Change=(Vol-Ref(Vol,-1))/Ref(Vol,-1);
StartBar = BeginValue( BarIndex() ); ;
FinishBar = EndValue( BarIndex() );
i = StartBar;
for (i = StartBar+31; i<Finishbar; i++)
{
Lookback=round(Lookback[i-1]*(1+Change));
if(Lookback>MaxLookback)
{
Lookback=MaxLookback;
}
if(Lookback<MinLookback)
{
Lookback=MinLookback;
}
}
HighChannel=Ref(HHV(H,Lookback),-1);
LowChannel=Ref(LLV(L,Lookback),-1);
Plot(HighChannel,"",colorPink,styleThick | styleNoRescale);
Plot(LowChannel,"",colorSeaGreen,styleThick | styleNoRescale );
GraphXSpace=7;
_SECTION_BEGIN("Adaptive Price Zone");
// Adaptive Price Zone Indicator & system
////////////////////////////////
function DblSmoothEMA( price, Length )
{
period = IIf( Length < 0, 1, sqrt( Length ) );
smooth = 2 / ( period + 1 );
return AMA( AMA( price, smooth ), smooth );
}
price = ParamField("Price");
period = Param("period", 20, 2, 100 );
BandPct = Param("width[%]", 1.4, 0.1, 4, 0.1 );
DsEMA = DblSmoothEMA( price, period );
RangeDsEMA = DblSmoothEMA( H - L, period );
UpBand = BandPct * RangeDsEMA + DsEMA;
DnBand = DsEMA - BandPct * RangeDsEMA ;
Plot( C, "Price", colorBlack, styleCandle );
Plot( UpBand , "UpBand", colorLightGrey );
Plot( DnBand , "DownBand", colorLightGrey );
// you may uncomment lines below to get 'cloud' chart
// if you are using version 4.80 or higher
// PlotOHLC( UpBand, UpBand, DnBand, DnBand, "Band",
// ColorRGB( 245,245,255), styleCloud );
SetTradeDelays( 1, 1, 1, 1 );
ADXThshold = 30;
ADXValue = ADX( 14 );
Buy = ADXValue <= ADXThshold AND Low <= DnBand;
Short = ADXValue <= ADXThshold AND High >= UpBand;
Sell = Cover = ADXValue > ADXThshold;
if( Status("action") == actionIndicator )
{
Equity(2);
PlotShapes( Buy * shapeUpArrow, colorGreen, 0, DnBand, -24 );
PlotShapes( Sell * shapeDownArrow, colorRed, 0, UpBand, -24 );
PlotShapes( Short * shapeHollowDownArrow, colorRed, 0, UpBand, -24 );
PlotShapes( Cover * shapeHollowUpArrow, colorGreen, 0, DnBand, -24 );
}
_SECTION_END();
Regards...
