High-Low Difference Channels r2

3 Jan 2016

About:

I developed the original as an experiment to potentially replace or augment my BB and RSI based strategies. After some back-testing I could see some really interesting results but it wasn't quite where I wanted it, so after some tweaking and further back-testing, and adding in more MA options, here we are. Mostly tested on 1h and greater time-frames using default settings.

Description / Usage:

• Adjust length and multiplier much the same way you would expect with Bollinger Bands.
  
• Multiplier of 1 gives you a base channel consisting of one high, and one low sourced MA
  
• The outer channels are increments of the base high-low channel width, away from the hl2 sourced MA
  

r2 Changes:

• Increased amount of up/down channels to 5, and lowered multiplier default to 1 (previously 1.5)
  
• Tweaked default colour scheme.
  
• Pick your MA poison of choice! Added choices for all your common MA variants.
  

Issues:

• VWMA bugs out and refuses to draw sometimes - no idea why.
  

Additional Notes:

All MA variants available in this script were derived directly from the sources of those available within the pine editor. I have been fairly diligent trying to ensure they all function correctly, but I can't 100% guarantee it, so if anyone gives the script a try, or dives into the code and see's something odd - don't hesitate to let me know!

It would also be fantastic to hear feedback from anyone who finds use for this, to augment an existing strategy/idea, or develop something new. :)

5 Jan 2016

Nota

Final revision done. No more tweaks/changes pending.

Added (optional) select-able fixed resolutions, so you can have 1 hour bands on your 1 minute chart if you do so feel inclined.

Otherwise just some minor code cleaning and proper commenting: