Dec channel
Flags when the 100-minute high and low both slide down together over the last 20 minutes.
It takes the lowest and highest close of the last 100 one-minute bars and measures how far each has moved over the last 20 bars, in percent. It fires when both lines fell by more than slope_eps, and their moves differ by no more than channel_eps percentage points, so the range is sliding down in parallel. The lines use closes, not wicks, so a candle's high or low can poke past the drawn range.
How to read it
- Each marker sits on a candle where the whole range is sliding down; a run of consecutive markers is one event.
- At default settings SPY had about one event per trading day (19 across September 2026), so the pattern is common.
- The range is built from the last 100 closes, so markers come after the slide has already started.
What it outputs
- Descending channel
- Marks each bar where the 100-bar high and low have both fallen over the last 20 bars, by similar amounts.
When it fires
Each bar where the 100-bar high and low have both fallen by more than slope_eps over 20 bars and moved within channel_eps of each other. Each event is a run of such bars; its first marker is where the parallel slide was first confirmed.
Settings
- slope_eps
- Minimum fall, in percent over 20 bars, that both lines must show. Higher means a steeper decline and fewer markers; 0 accepts any decline. Below 0 the test reverses, so the lines may rise by up to that size.
- channel_eps
- Largest allowed gap, in percentage points, between how far the two lines moved. Higher admits wider, less parallel channels and more markers. At 0 it only fires on exactly matching moves; negative values never fire.
Pitfalls
- The lines use closes, so a candle's wick can extend past the drawn range while the pattern stays on.
- The lines use the default donchian_trends inputs (100-bar range, 20-bar slope); this indicator's own params cannot change them.
- The sliders accept negative values that break the logic: a negative channel_eps never fires, and a negative slope_eps stops requiring a decline.