stelaraX - Donchian Channel

stelaraX – Donchian Channel

stelaraX – Donchian Channel is a classic price channel indicator designed to track market extremes over a defined lookback period. The indicator highlights the highest high and lowest low, providing a clear view of price range, breakout levels, and trend strength.

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Core logic

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

* upper band represents the highest high over the selected period
* lower band represents the lowest low over the selected period
* middle line represents the midpoint between upper and lower bands

This structure allows traders to quickly identify range boundaries and directional bias.


Visualization

The script plots:

* the upper Donchian Channel line
* the lower Donchian Channel line
* a central midpoint line

The area between the upper and lower bands can be filled with a semi-transparent color to clearly visualize the active trading range. All colors are fully customizable.


Use case

This indicator is intended for:

* breakout and trend-following strategies
* identifying support and resistance ranges
* volatility and range expansion analysis
* channel-based trade management
* multi-timeframe range evaluation

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.