LonesomeTheBlue

Donchian Trend

Hello All,


I think all of you knows Donchian Channels. so I am not going to write about it.

With this indicator I tried to create Trend Lines by using Donchian Channel upper/lower bands. I tried add possible entry levels as well.

How it works ?
- it calculates main trend direction by using the length that is user-defined. so you can change it as you wish
- then it calculates trend direction for 9 lower lengths. if you set the length = 20 then the lengths are 19, 18,...11
- and it checks if the trend directions that came from lower lengths is same or not with main trend direction.
- it changes the trendline color. lighter trend line means stonger trend, darker trend lines means entry points or possible trend reversal.
- it puts entry points by using trend directions that were created by using lower lengths. it gets entry points if high/low touches main trend line as well.


Warning: Arrows are entry points but it may also represents trend reversal. So you should use stoploss line if you decide to take buy/sell positions.


P.S. I didn't backtest it, it's non-repainting, it should be used educational purposes only. I believe it can be improved, so I am open for new ideas to improve it ;)



Enjoy!
Usuń z Ulubionych Skryptów Dodaj do Ulubionych Skryptów
If you find my works useful, please consider a donation
BTC: 19qDW9AShZhBZsGuXcgRzam5Fbpc3EU8EV
ETH: 0x39c8552371b9b7f4e324197af460ba8bc8e18ef9

Komentarze

excellent work :)
Odpowiedz
Really great idea, I love stuff like this. Nice work!
+3 Odpowiedz
I like it, thank man
+2 Odpowiedz
I saw your "My Script" indicator ;) And want to have it haha
+3 Odpowiedz
@RedBeard_0x, sure I will publish it as well ;)
+3 Odpowiedz
puvanarul LonesomeTheBlue
@LonesomeTheBlue, lovely when u publish?
Odpowiedz
Strona główna Skaner akcji Skaner Forex Skaner Krypto Kalendarz ekonomiczny Jak to działa Funkcje wykresów Cennik Poleć przyjaciela Dobre Praktyki Centrum Pomocy Rozwiązania internetowe i brokerskie Widżety Wykresy Lekka Biblioteka Wykresów Blog i wiadomości Twitter
Profil Ustawienia profilu Konto i płatności Poleć przyjaciela Wiadomości do działu obsługi Centrum Pomocy Opublikowane Pomysły Obserwujący Obserwujesz Wiadomość prywatna Czat Wyloguj