Nexfin Donchian Channel Indicator

This indicator draws the entry channel and, separately, the shorter exit channel expressed as a percentage of the entry lookback, so both halves of a trade are visible at once. Both are plotted bar by bar across the whole chart rather than only at their current value, so scrolling back shows the channel as it stood at that time. An ATR trailing line follows an active breakout and shows where a trailing exit would sit.

The exit channel is drawn thinner and dimmer than the entry channel, so the pair that triggers a trade stays the one your eye goes to.

A green arrow marks a buy, a red arrow marks a sell. The channel is measured on the bars before each signal bar, so an arrow marks a genuine close beyond the prior range. Signals are evaluated on completed bars and every historical signal is drawn.

Direction toggles

Buy and sell signals can be shown independently, which is useful if you trade only one side of a market or want to overlay two copies with different settings.

Higher timeframe channel, disabled by default

Overlays the channel from a slower timeframe, so you can see whether a breakout on your chart is also a breakout on the timeframe above.

Signal statistics

The panel counts the breakouts this configuration produced on the chart in front of you and reports how they resolved. Because this indicator exits on the trailing line rather than at a fixed target, the result is measured in R: the distance from entry to exit divided by the initial risk. The trailing line is already simulated bar by bar in order to draw it, so the exit price is known exactly.

It reports how often the setting fires as signals per year, the number of closed trades, the share that closed positive, and the total and average R. Below thirty closed trades no headline figure is shown.

A second line charges your broker's current spread against every trade, scaled to price, and prints the average again net of it. The total is shown the same way, after the spread, with the gross figure beside it.

Switch on the stability check and the same rule is measured again with both structural inputs moved twenty percent in each direction, reporting the worst neighbour beside your own result. A setting that only works at its own exact numbers is reported as a spike rather than a plateau.

This is not a backtest. There is no position sizing, no compounding and no slippage.

Panel and alerts

The panel reports the entry and exit channel levels, whether a breakout is currently active and in which direction, the breakout counts and the exit style in force, and sizes itself to its contents. Popup, push and email alerts are included and disabled by default.

Try it first

Download the free demo and run it in the Strategy Tester's visual mode. Load enough history, watch the chart and the panel update bar by bar, and change one input at a time to see its effect. The demo runs in the tester, not on a live chart.

Technical

Any symbol, any timeframe. No DLL calls, no web requests, no external files.

Support: please use the comments section of this product, or send a message through the site.