DNC Band Width oscillator displays the Donchian channel width in a separate window.
The indicator has three input parameters:
- Period – calculation period
- Analyze current bar – consider the value of the current bar in calculations (Yes/No)
- Data in points – display the indicator data in points (Yes/No)
Calculation:
Width = Top - Bottom
where:
Top = Max(High, Period) Bottom = Min(Low, Period)
Fig. 1. DNC Band Width
Fig. 2. DNC Band Width and Donchian channel
Alternative: Adaptive Moving Average - AMA - with filter, histogram version - indicator MetaTrader 5
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