I have seen something similar elsewhere recently so i decided to make my own version of this channel sketcher for the new ProRealTime 10.3 version with the new “DRAWSEGMENT” function.
This is a regression channel sketcher that draw segment other highs and lows over a ‘p’ period (20 by default).
The alpha gradient is calculated with the difference between the top and bottom channel to made it easier to “read”.
This indicator is more an attempt to demonstrate new graphical capabilities of the platform, than to use it for real trading, but it can be 🙂
|
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 |
p=20 z1 = linearregression[p](high) z2 = linearregression[p](low) y1 = 1.5*std[p](high)+z1 y2 = 1.5*-std[p](low)+z2 if(y1>y1[p]) then Rh = 0 Gh = 255 else Rh = 255 Gh = 0 endif if(y2>y2[p]) then Rl = 0 Gl = 255 else Rl = 255 Gl = 0 endif a = (255*(y1-y2))/(300*pipsize) if a>255 then a = 255 endif DRAWSEGMENT(barindex-p*1.5,y1[p],barindex+10,y1)coloured(Rh,Gh,0,a) DRAWSEGMENT(barindex-p*1.5,y2[p],barindex+10,y2)coloured(Rl,Gl,0,a) RETURN |
Share this
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.
ProRealTime ITF files and other attachments :
Filename : download the ITF files
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
Doesnt work for me. absolutelu nothing appears on the graph. And impossible to delete the indicator once installed !
Very nice indicator. Why doesn’t it refresh as time passes?
It should refresh on each bar.
On my PC it doesn’t refresh. I am using intraday tick bars (not minutes). Unfortunately I don’t know how to attach an image to show you, sorry