I got the idea for a narrow Donchian Channel with a short lookback period which closely follows the price fluctuation in which the sides of the channel have a thickness according to the range of the last touching candle. Any channel, be it Donchian, Keltner, Bollinger Bands or Parallel, has an upside and a downside, touching the upside is a buy signal as this may...
Trend filter created based on donchian channel. I am using my custom donchian channel as base for this indicator: Concept is simple. We count how many times price is hitting donchian channel top or bottom without hitting the other side and keep counter for both. Thus: upCount is the number of times price hits donchian channel top without hitting bottom ...
Hello Traders, I would like to introduce you donchain support&resistance levels. The idea is to look for important levels that are identified by donchain line, where donchain usualy spents a lot of time without any move usualy turns out to be good level for bounces. Also note that when there is a big spread between first line and second line it usually leads to...
This strategy is a demo for fixed price stop loss. This strategy enables you to specify fixed price stop loss. Let's say your deposit is USD. When you trade EURCAD, you need to specify the quantity for trade. Here comes three chances for trade. A: SL pips: 500 B: SL pips: 200 C: SL pips: 100 In these trade, the risk is different for each. ABC risk ratio...
This script shows 3 Donchian Channel 78.6% and 21.4% intermediary level lines to perform trade analysis. Besides those 6 lines it also optionally shows Fibonacci's retracements with 100%, 127%, 162%, 200% and 262% for one of the Donchian channels. The 3 Donchian Channels used have default lengths 72, 305 and 1292, calculated after the first length default value...
This script looks for two entry signals. Long is when the previous breakout of the donchian channels was a low, price is above the input EMA, current price is equal or higher than the upper band and we're not in a position yet. Short is the other way around, so previous breakout of the donchian channels was a high, price is below the input EMA, current price is...
This Strategy is finding high and low breaks of the day and enter into the trader based on RSI value and time value 1) This strategy is created for Indian Index like Nifty, Bank Nifty and so... 2) Trades are initiate only after 10:15 AM and before 3:10PM 3) High and Low of the day break will be check during the above time frame 4) RSI value will be check (RSI...
Hey everybody, This is my first strategy and script I wrote mostly myself. There's tons of content out there to learn how to code in Pinescript and it's exactly what I wanted and needed in this time of my life. In any case, I made a rather simple MACD crossover strategy that only takes trades in the direction of both EMA and SMA (there are inputs to change the...
This is an extension to Donchian Channel - Pivot High Low indicator. Creating new version as the new type added isn't related to pivot high/low. New type added is based on moving average. Instead of using highest and lowest of n bars, here, we are using lowest and highest of moving average of highs and lows for n bars. Previous version of Donchian channel pivot...
The following indicator returns a line bouncing of the extremities of a Donchian channel, with the aim of replicating a "zig-zag" indicator. The indicator can both be lagging or lagging depending on the settings user uses. Various extended lines are displayed in order to see if the peaks and troughs made by the Donchian zig-zag can act as potential...
- Based on Coach AK formula of determining collection area of retracement stock. - If price below collection area, collect in tranches.
This indicator uses different volatility channels - Bollinger Band, Donchian Channel and Keltner Channel width to measure volatility. Indicator plots channel bandwidth percentage with respect to close price. This is not same as Bollinger Percent B - which is measure of where price is with respect to band. Instead this indicator is similar to ATR Percent...
Another adoption of supertrend. This time based on different channels - Bollinger Band, Keltner Channel, Donchian Channel and Pivot point based Donchian channel. When price hits top of bands, it is considered as start or continuation of uptrend. When price hits bottom of the band it is considered as start or continuation of downtrend. Hence, supertrend is drawn...
Combining Pivot High Low and Donchian Channel - both of which are useful indicators for trend following. Donchian Channel shows highest and lowest prices for X number of bars. Pivot High-Low identifies when price made new Highs and Lows Applying Donchian Channel on Pivot High-Low channel, we are plotting highest and lowest pivots formed in X bars. In this...
The Donchian Dip This strategy is designed to look for good "Buy the Dip" entries on stocks that are clearly in a strong 1-year upward trend. If you do not know how to identify those stocks on your own please do not use this system or continue your education until you do. The Donchian Dip strategy was designed on the daily time frame but works amazingly well on...
Abstract This script provides a set of Trendline Channels which can be tighter than Donchian Channels. This script computes the most suitable active upper and lower trendlines and updates them as soon as possible. We can use it for breakout signals earlier than Donchian Channels. Introduction Channels are tools which can mark area of values of ranging...