TakePropips Donchian Trend Pro
- Eric John Pajarillaga Aldana
- Version: 4.10
- Updated: 16 January 2023
- Activations: 10
TakePropips Donchian Trend Pro (MT4) is a powerful and effective tool that automatically detects the direction of the trend using the Donchian Channel and provides you with an entry and exit trading signals!
This multi-function indicator includes a trend scanner, trading signals, statistical panel, screener, trading sessions, and alerts history dashboard. It is designed to provide you with trading signals and save you hours analyzing the charts!
You can download the user manual and installation guide on our blog post: https://www.mql5.com/en/blogs/post/751368
You can test this indicator on Strategy Tester (enable Visual Mode). You can also message me to get a 7 day trial version if you prefer to test on live charts.
Video tutorial is also available below the description for more details.
Contact me if you have any questions or need any assistance.
The TakePropips Donchian Trend Pro indicator works on all Forex pairs, Metals, Commodities, Indices, and Crypto.
Trading Signals - detects buy & sell opportunities on all pairs across multiple timeframes. It will provide you with alerts and plot the trading signals on the chart with up to 3 take profit and a stop loss price.
Trend Scanner - used to quickly scan and identify the trend direction of each pair across multiple timeframes. The trend scanner shows color green for uptrend and color red for downtrend. The numbers inside the box represents the success rate of the signals.
Dynamic Take Profit & Stop Loss - the TP and SL targets will always adapt to the current market conditions based on volatility and support/resistance levels. It is better than having a fixed target for TP and SL. By default, the TP is based on current volatility (ATR) and the SL is based on current support/resistance level.
Trade Signals Dashboard - shows the trade direction, entry price, up to 3 TP levels, SL, success rate, and total profit of each pair so you know exactly the result of each trading signals.
Technical Data Panel - shows the data of RSI, Stochastic, MACD, Moving Averages, Spreads, and a timer countdown for the next candle.
Screener - shows technical data for each pair across all timeframes using various technical indicators such as RSI, Stochastic, MACD, Moving Average, CCI, WPR, ATR, and Momentum indicator. This can be used as part of your technical analysis or confirmation before entering a trade.
Trading Market Sessions - automatically identify the trading session of each candlesticks and its range from sessions high to sessions low on the chart. The trading sessions are London, New York, Tokyo, and Sydney Sessions.
Notifications History - shows you the most recent history of trading signal alerts sent out by the trading system. You can also filter the alerts by date and pairs.
MT4 Alerts, Email, and Phone Notifications - receive alerts when a new buy or sell signals are identified so you never miss another trading opportunity. The alerts includes the pair name and timeframe the signal was generated, trade direction (buy or sell), win rate, entry price, SL, TP1, TP2, and TP3.
Trend Scanner Data - you can modify the data shown on the trend scanner boxes. By default, it will show the win rate of the trade signals on the trend dashboard scanner.
Accurate Trading Signals - the signals generated by the indicator are highly accurate and precise. The Donchian Trend Pro strategy is tested and verified to work in the current market conditions.
Non-Repainting Signals -the signals are never repainted or back-painted.
Average Daily Range (ADR) - shows the ADR of each pair on the dashboard which can be used to determine the volatility of each pair.
Range Meter - used to determine the strength and weakness of the current price of each pair relative to the highs and lows of its current daily bar.
Chart Screenshot - quickly take a screenshot of the current chart.
Customizable Dashboard - you can customize the size of the dashboard and change its colors and theme based on your own personal preference.
Hotkeys - convenience of interacting with the dashboard using keyboard shortcuts.
I recently stumbled upon this 'indicator" while I was searching for a mere trend scanner to support my usual strategies... And... What an amazement! In a nutshell, this amazingly simple and elegant tool, is more a comprehensive trading system than a basic indi... It is based on the pure market logic and the combination of several well-known indicators, assembled and put to work in a smart way, so that their confluent reading gives a high percentage of probability to play out well for each suggested trade. Here, one will find no dodgy methodology, no hocus-pocus, no grey zone, no makeshift indicators build up on the basis of fuzzy theories: only a solid help to the decision process by means of transparent interpretation of price action and the momentum of each instrument within the watch list. On top of this, the dashboard which is the pivotal point of the whole system is particularly well designed and pleasant to use. Its functions are plethoric, yet intuitive, and a broad range of customizable settings allows each user to configurate his / her tool to match their specific needs. Beginners have however to be aware that this system, even though incredibly efficient when properly used has to be paired with sound analysis of the overall market context and with proper Money Management to function to its full potential. Once such conditions are gathered, it's a highway to profits that unfolds in front of any trader serious about taking their business to the next level! On top of this, the author, M. Eric, is very responsive and supportive. So as a conclusion, I'd say that my only regret is that I cannot assign more than 5 stars to this incredible product! Bravo, and keep up the great work! MF