stelaraX - Donchian Breakout

stelaraX – Donchian Breakout

stelaraX – Donchian Breakout is a breakout-focused indicator based on the Donchian Channel concept. It identifies bullish and bearish breakouts when price closes outside the previous high–low range, providing clear and rule-based breakout signals.

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Core logic

The indicator calculates a Donchian Channel using a user-defined lookback period:

* upper band is the highest high of the previous period
* lower band is the lowest low of the previous period
* middle line represents the midpoint of the channel

Breakout conditions are defined as:

* bullish breakout when price closes above the upper band
* bearish breakout when price closes below the lower band

Using the previous period values avoids repainting and ensures confirmed breakout signals.


Visualization

The script plots:

* upper and lower Donchian Channel boundaries
* a midpoint line for range context
* a filled channel area to visualize the active range

Breakout signals are marked directly on the chart:

* upward triangle for bullish breakouts
* downward triangle for bearish breakouts

All colors are fully customizable.


Alerts

Alert conditions are included for:

* bullish Donchian breakout
* bearish Donchian breakout

Alerts reference the active ticker and trigger only on confirmed breakout conditions.


Use case

This indicator is intended for:

* breakout and trend-following strategies
* identifying range expansions
* systematic Donchian channel trading
* momentum-based entry signals
* multi-timeframe breakout analysis

For a fully automated AI-driven chart analysis solution, additional tools and insights are available at stelarax.com


Disclaimer

This indicator is provided for educational and technical analysis purposes only and does not constitute financial advice or trading recommendations. All trading decisions and risk management remain the responsibility of the user.