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@TempletonPeck: That was a simple omission of 3 lines in OnStartUp(). I cannot tell you the reason for the color issue. Could you let me know, whether it is reproducible and what are the time stamps of those bars?
I wanted to update the indicator anyhow. I have now slightly changed the lables. What I called a weak downtrend (actually I wanted to say weakening downtrend) is now an early uptrend. I think it is easier to understand this way.
Actually the confirmed (main) trend changes from positive to negative, when the upper line comes clear from the maximum value of the lower line during the uptrend. The early trend changes to negative, when the upper line comes clear from the maximum value of the Donchian midline during the uptrend.
Rather than waiting for the confrimed trend to change, you can use the early trend and enter after the first pullback.
I have also extended the options to calculate Donchian Channels. You can now calculate them from High/Low, Close, Typical or Weighted. If you use the Typical Price, you will get faster and smoohter signals compared to those generated from the Close or High/Low. Below is a comparison and the updated indicator.
I have now replaced the indicator file in post #12. Large parts of the indicator are changed to comply with COBC = false. Please let me know any observations.
By the way, the bug affected at least 6 other indicators, which I have coded, but nobody ever complained!
Exported using NT version 7.0.1000.27
This is a generalized version of the Donchian Channel with a few options added:
- The Donchian Channel lines can be calculated from High/Low, Close, Typical or Weighted price. With the default option High/Low …