TrendMagic Channel

Hi guys,

I have a quick coding request based on the TrendMagic indicator.

Trendmagic has it's fans as a trending or trailing stop indicator but recently I have been looking at it with a ranging hat on. Simply if there has been no up or down move in the indi for a period, say 5 bars, then proce can be considered rangebound and positions taken at the extreme of a channel, say 10-15 pips.

I would therefore ask if anyone of a coding persuasion could adjust or create a new indi based on the TM indicator to place an upper and lower channel at a user definable number of pips, or %. It would also be better if some identifier, either thicker or different coloured lines, could be used to show when there has been no change in value for the last number of user defined bars.

I have been monitoring this manually and I think there is some mileage in this so having this indi update automatically would be more efficient than doing it manually and enable more thorough testing and development.

I have attached the best TM code I have been able to find and thank anyone for their input and assistance.

G-Man

https://www.forexfactory.com/thread/...5#post13383175
What TF do you use?
Forex Station - Did you also make a request?
Update
https://forex-station.com/viewtopic....64#p1295427364

Brother, I don't know English. You can explain what kind of "corridor" you want. Here is an analogue of the corridor. But there are places where there are differences.
What should the corridor be built on - what should characterize it? "Parameter" deviation.