//@version=4
study(“Donchian Channel – Pivot High-Low”, overlay=true)
pvtLenR = input(4)
pvtLenL = input(2)
waitforclose = input(true)
ShowHHLL = input(true)
DCBase = input(title=”Channel Base”, defval=”Combined”, options=[“Price”, “Pivots”, “Combined”])
DCLength = input(20)
showChannel = input(true)
donchian(highSource, lowSource, rangeLength)=>
top = highest(highSource, rangeLength)
bottom = lowest(lowSource, rangeLength)
middle = (top+bottom)/2
[middle, top, bottom]
f_calculatePivots(Shunt)=>
pvthi_ = pivothigh(high, pvtLenL, pvtLenR)
pvtlo_ = pivotlow(low, pvtLenL, pvtLenR)
pvthi = pvthi_[Shunt]
pvtlo = pvtlo_[Shunt]
pvthighline = pvthi
pvthighline := na(pvthighline)? nz(pvthighline[1]): pvthighline
pvtlowline = pvtlo
pvtlowline := na(pvtlowline)? nz(pvtlowline[1]): pvtlowline
higherhigh = na(pvthi) ? na : ( valuewhen(pvthi, high[pvtLenR+Shunt], 1) < valuewhen(pvthi, high[pvtLenR+Shunt], 0) ) ? pvthi : na
lowerhigh = na(pvthi) ? na : ( valuewhen(pvthi, high[pvtLenR+Shunt], 1) > valuewhen(pvthi, high[pvtLenR+Shunt], 0) ) ? pvthi : na
higherlow = na(pvtlo) ? na : ( valuewhen(pvtlo, low[pvtLenR+Shunt], 1) < valuewhen(pvtlo, low[pvtLenR+Shunt], 0) ) ? pvtlo : na
lowerlow = na(pvtlo) ? na : ( valuewhen(pvtlo, low[pvtLenR+Shunt], 1) > valuewhen(pvtlo, low[pvtLenR+Shunt], 0) ) ? pvtlo : na
[pvthighline, pvtlowline, higherhigh, lowerhigh, higherlow, lowerlow]
Shunt = waitforclose? 1 : 0
[pvthighline, pvtlowline, higherhigh, lowerhigh, higherlow, lowerlow] = f_calculatePivots(Shunt)
[middleP, topP, bottomP] = donchian(pvthighline, pvtlowline, DCLength)
[middleC, topC, bottomC] = donchian(high, low, DCLength)
top = DCBase == “Combined”? max(topP,topC) : DCBase == “Pivots” ? topP : topC
bottom = DCBase == “Combined”? min(bottomP,bottomC) : DCBase == “Pivots” ? bottomP : bottomC
middle = DCBase == “Combined”? (middleP+middleC)/2 : DCBase == “Pivots” ? middleP : middleC
//plotshape(ShowHHLL ? higherhigh : na, title=’HH’, style=shape.triangleup, location=location.abovebar, color=color.green, text=”HH”, offset=-pvtLenR-Shunt, transp=50)
//plotshape(ShowHHLL ? higherlow : na, title=’HL’, style=shape.triangleup, location=location.belowbar, color=color.green, text=”HL”, offset=-pvtLenR-Shunt, transp=0)
//plotshape(ShowHHLL ? lowerhigh : na, title=’LH’, style=shape.triangledown, location=location.abovebar, color=color.maroon, text=”LH”, offset=-pvtLenR-Shunt, transp=0)
//plotshape(ShowHHLL ? lowerlow : na, title=’LL’, style=shape.triangledown, location=location.belowbar, color=color.maroon, text=”LL”, offset=-pvtLenR-Shunt, transp=50)
BBup = plot(showChannel ? top: na, title=”Top”, color=color.red, linewidth=1, transp=50, style=plot.style_linebr)
BBdown = plot(showChannel ? bottom: na, title=”Bottom”, color=color.green, linewidth=1, transp=50, style=plot.style_linebr)
BBmid = plot(showChannel ? middle: na, title=”Middle”, color=color.blue, linewidth=1, transp=50, style=plot.style_linebr)
fill(BBup, BBmid, title=”High Zone”, color=color.green, transp=90)
fill(BBdown, BBmid, title=”Low Zone”, color=color.red, transp=90)
.
