OPEN-SOURCE SCRIPT
Average Top / Bottom Channels
This script is designed to simplify price action by creating an average top and average bottom channel around the market. Instead of focusing on every candle, wick, and short-term price fluctuation, the indicator calculates recent swing highs and swing lows, averages them, and displays a clean visual range where price is moving over time.
The upper line represents the average of recent price tops, while the lower line represents the average of recent price bottoms. The area between them acts like a simplified trend channel, helping identify whether price is moving higher, lower, sideways, or stretching outside its normal range.
My preferred way to use this script is to hide the regular price chart after adding the indicator. This removes visual noise from the candles and makes it easier to focus on the overall direction, structure, and trend behavior. After that, I adjust the settings to fit the market and timeframe I am viewing.
Lower sensitivity settings make the channel react faster to recent price movement, while higher sensitivity settings create a smoother channel for broader trend analysis. The goal is not to predict every candle, but to simplify the chart so the larger trend and average price range become easier to see.
The upper line represents the average of recent price tops, while the lower line represents the average of recent price bottoms. The area between them acts like a simplified trend channel, helping identify whether price is moving higher, lower, sideways, or stretching outside its normal range.
My preferred way to use this script is to hide the regular price chart after adding the indicator. This removes visual noise from the candles and makes it easier to focus on the overall direction, structure, and trend behavior. After that, I adjust the settings to fit the market and timeframe I am viewing.
Lower sensitivity settings make the channel react faster to recent price movement, while higher sensitivity settings create a smoother channel for broader trend analysis. The goal is not to predict every candle, but to simplify the chart so the larger trend and average price range become easier to see.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.