PRICE CHANNEL BASED ON A MOVING AVERAGE

 

PRICE CHANNEL BASED ON A MOVING AVERAGE

Type : Indicator, Name : 20-day MA of Close-to-Close Price Changes, Added To Closing Price

Inputs:
LookBack(20);
Variable:
PercChange(0),
NewLevel(0),
AvgPercChange(0);

PercChange = (Close — Close[1])/Close[1];
AvgPercChange = Average(PercChange,20);
NewLevel = Close * (1 + AvgPercChange);
Plot1[1](NewLevel,»»);

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