KT Donchian Channel MT5
- Göstergeler
- Sürüm: 1.0
KT Donchian Channel is an advanced version of the famous Donchian channel first developed by Richard Donchian. It consists of three bands based on the moving average of last high and low prices.
- Upper Band: Highest price over last n period.
- Lower Band: Lowest price over last n period.
- Middle Band: The average of upper and lower band (Upper Band + Lower Band) / 2.
Where n is 20 or a custom period value is chosen by the trader.
Features
- A straightforward implementation of the Donchian channel blended with some useful customizations.
- Cross-Timeframe ability. You can have a Donchian channel from H1 on a 15 min. timeframe.
- Alerts are provided when the price touches a band.
- It displays the price tag with each band.
- Ability to customize the alerts for each band.
- All Metatrader alerts are included.
Inputs
- Channel Period: An integer value to select the n period of the Donchian channels.
- Channel Timeframe: You can choose a custom timeframe. For example, you can have a Donchian channel from M30 on M5 timeframe.
- Draw Price Tags: If true, price tags will be plotted for each band.
- Upper Band Alert: Alert generated when price touches the upper band.
- Middle Band Alert: Alert generated when price touches the middle band.
- Lower Band Alert: Alert generated when price touches the lower band.
Applications
- You can use the Donchian channel to detect reversals, breakouts, newly formed trend, and stop-loss trailing.
- One can also use the Donchian channel to design mean reversion trading strategies.
