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Donchian Channels OnOff MT4

5

The indicator Donchian Channels On-Off let you control the indicator using the keyboard or a button. The Donchian Channel is the area between the upper and lower bands. The width of the Donchian channel displays information about price volatility. When the channel is narrow the volatility is low, conversely a large channel implies high volatility. It is formed by taking the highest high and the lowest low of the last n periods. 


How it works: you can choose if you want the indicator always shown or always hided while switching among different time frames or financial instruments. It's possible to show/hide  the indicator just pressing the button or using the keyboard.


The Donchian Channels indicator is composed by three  lines: the upper  border, lower border  and a middle. The upper and lower band are obtained respectively by taking the highest high and the lowest low of the last N periods. Richard Donchian, who developed the indicator, recommended to use period 20 to build the Channel. In fact, when he developed the indicator, the trading was usually made on daily chart and 20 is the number of trading days in a month.


Upper Band= Highest High in last N Periods

Middle Band= (Upper Band+Lower Band)/2

Lower Band= Lowest Low in last N Periods



Input

  • It is possible to setup the N periods for channels
  • It is possible to shut down the Central Line
  • You can shift the channel by 'X' number of bars
  • It is possible to set up two more levels, theiy can be shutted down.
  • You can choose their color, the style  and the the width
  • It is possible to shut down the button and setup your favorite keys to on-off the indicator
  • It is possible to customize the button: the position on the screen, the size, the colors and the label


Bewertungen 1
Maan-Eee
204
Maan-Eee 2021.02.11 00:10 
 

Purchased other indicators from this author and asked him if he could do DC too and he delivered it within a day. Amazing work just like the other indicators and this DC indicator is better than expected as it has a boarder level which can be used to trail stop loss and take profit. Highly recommended indicator and author.

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4.92 (78)
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STE S.S.COMPANY
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Mihails Babuskins
4 (7)
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Juvenille Emperor Limited
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STE S.S.COMPANY
4.71 (49)
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Auswahl:
Maan-Eee
204
Maan-Eee 2021.02.11 00:10 
 

Purchased other indicators from this author and asked him if he could do DC too and he delivered it within a day. Amazing work just like the other indicators and this DC indicator is better than expected as it has a boarder level which can be used to trail stop loss and take profit. Highly recommended indicator and author.

Antwort auf eine Rezension
Version 1.3 2022.06.03
- Added the option to shift the channel by 'X' number of bars
- Minor bug fixes
Version 1.2 2022.04.27
- Added Time frame otpion: you can choose the tf in which the channel is calculated and visualize it in other time frames
- Minor bug fixes
Version 1.1 2021.05.02
- improved the code: removed bool always on/off in the input