Donchian Channels – DCH
The Donchian channel is an indicator used in market trading developed by Richard Donchian. It is formed by taking the highest high and the lowest low of the last n periods. The area between the high and the low is the channel for the period chosen.
The Donchian channel is a useful indicator for seeing the volatility of a market price. If a price is stable the Donchian channel will be relatively narrow. If the price fluctuates a lot the Donchian channel will be wider. Its primary use, however, is for providing signals for long and short positions. If a security trades above its highest n periods high, then a long is established. If it trades below its lowest n periods low, then a short is established.
The indicator has two parameters:
- Computed From – refers to the source of the price data on each bar
- Period – refers to the number of periods on which indicator is calculated
The indicator has three lines:
- Upper Band
- Middle Band
- Lower Band
Indicator is implemented for: MT4/MT5/Tradestation/ Multicharts
You can download the indicator here.
Indicator is implemented for: MT4/MT5/Tradestation/ Multicharts.
How to import custom blocks:
- Open the Algo Wizard in SQX
- Select Customize
- Select Custom Blocks
- Import Custom Blocks
- Save them
You can easily do your conditions in Custom blocks. More information you can find here:
In this module, you can also modify the custom blocks – change the periods, change the steps, etc.
How to import custom indicators to SQX:
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