Donchian Channel 3 (3 ways to display the trend)

Donchian Channel 3 (3 ways to display the trend)

This is the Donchian Channel indicator extended version.

You can choose to display the trend in 3 different ways:

  1. traditional one by applying the indicator directly onto the price chart to display the channel formed by the higher highs and lower lows
  2. as a normalized price oscillator with normalized boundaries at 1/-1 (calculated upon the last higher highs and lower lows)
  3. as a normalized price oscillator with dynamic boundaries

The current trend is displayed as a red/green plotted at zero level. The trend change each time the price broke the higher or lower boundaries of the donchian channel.

Indicator converted from mt4 code following a request made in the Italian indicator forum.

 

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Sukhdev Golen • 09/17/2019 #

    Hi Nicolas, how to use this on tradingview?

    • Nicolas • 09/17/2019 #

      You can’t. All codes here are made for the ProRealTime trading platform:
      https://www.prorealtime.com

  2. Maxime Baudin • 09/17/2019 #

    Thanks!

  3. Byggtrader • 09/17/2019 #

    Hi Nicolas! How do I get the indicator in the price chart? It only stays under i new chart.

    • Nicolas • 09/17/2019 #

      Just add it on the price chart by using the wrench on the left upper side of the chart (price settings)

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