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This is what I want to do. I want to take a donchian channel and have the channel change based on a 3 and 12 bar simple moving average.
For example if the 3 bar moving average is > than the 12 bar moving average I want the top channel of the donchian channel to be hidden so that only the lower channel is showing on the chart. If the 3 bar moving average is < 12 bar moving average then I want the bottom channel hidden. It will kind of look like a parabolic when finished.
Any help on this would be appreciated incredibly. Thanks.
Regards
Can you help answer these questions from other members on NexusFi?
Here is one way to do it. The Donchian is a 20 period, if you want to change it. I made the alerts >= and <= just because it looked better to me. Delete the equal signs if that's not what you want.
It can be done using the Spreadsheet Study study.
Try this:
-Hide the Donchian Channel study
-Add the Spreadsheet Study study
-Set the Chart Region to 1
-Give the spreadsheet study a name in the Spreadsheet Name field
-Set the Draw Styles of SG1 and SG2 to Line-SkipZeros
-On the spreadsheet, use these formulas:
Cell K3:
=IF(ID2.SG1@3>ID3.SG1@3,ID1.SG2@3,0)
Cell L3:
=IF(ID2.SG1@3<ID3.SG1@3,ID1.SG1@3,0)
where ID2 and ID3 are the MAs, and ID1 is the Donchian Channel. Edit as needed.
