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GChannel indicator for NinjaTrader 8

GChannel

This version of the GChannel indicator was created in 2021 by a gifted coder. It’s pretty easy to use and provides clear signals, It may be used as a baseline indicator.
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Manufacturer: nt8indicators
SKU: GCHANNEL
Vendor: nt8Indicators
$9.90

Channels indicators are widely used in technical analysis, they provide lot of information. In general, technical indicators giving upper/lower extremities are calculated by adding/subtracting a volatility component to a central tendency estimator. This is the case with Bollinger bands, using the rolling standard deviation as volatility estimator and the simple moving average as central tendency estimator, or the Keltner channels using the exponential moving average and the average true range.

Lots and lots and lots (i can go on) of those indicators have been made, they only really need a central tendency estimator, which can be obtained from pretty much any filter, however i find interesting to focus on the efficiency of those indicators, therefore i propose a super efficient channel indicator using recursion. The average resulting from the upper/lower extremity of the indicator provide a new efficient filter similar to the average highest/lowest.

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