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Forex Software → Forex Strategy Builder (legacy) → Indicator Request: Donchian Channel
It can be useful to add Donchian Channel to the indicators list to allow entry/exit at the donchian channel level.
Calculation:
DonchianChaannelHighBand( Bar ) = HighestHigh( Bar, N )
DonchianChaannelLowBand( Bar ) = LowestLow( Bar, N )
Where N is the lookback period
Of course, "no lookahead" rules apply here, so in the above example, you are allowed to buy only at Bar+1
Ok, I can do that for ten minutes. Let see for something other (ease and fast) and I'll add it next week.
About Donchian Channel. I'll make it to work as a filter also.
- Open long when the bar opens below the up band
.......
......
Thanks!
Yes - this will be useful for range-bound strategies (buy at low band) or breakout strategies (buy at high band)
You may want to add "shift" parameter to it, as you have with other indicators.
The indicator is ready.
It can be tested here
I'm not sure for its behavior like a filter. Theoretically the opening price of the bar has to be always between the bands. Only if we have a big gab the bar opens outside the Donchian Channel.
See this:
Forex Strategy Builder V 2.4.0.3
Strategy name: New
Exported on: 4/13/2007 10:32:46 PM
Market: EURUSD 1 Day
Spread: 4 pips
Swap Number: 1 pip
Balance: 113 pips
Minimum account: -612 pips
Maximum drawdown: 720 pips
Time in position: 2 %
The same direction signal - does Nothing
The opposite direction signal - does Nothing
[Opening point of the position]
Bar Opening
The market entry is at the beginning of the bar
Base price - Open
[Opening logic condition]
Donchian Channel
The current bar opens below the Down Band
Period - 10
[Closing point of the position]
Bar Closing
The market exit is at the end of the bar
Base price - Close
We open outside of the band and we close at the bar closing.
If you think it is normal I'll live like that. (the other is to remove the filters 
)
Other suggestions?
Ok,
As an entry and exit rule, it looks nice.
Sample strategy:
Forex Strategy Builder V 2.4.0.3
Strategy name: Donchian Channel
Exported on: 4/13/2007 22:45:56
Market: USDJPY 1 Day
Spread: 4 pips
Swap Number: 1 pip
Balance: 6469 pips
Minimum account: -39 pips
Maximum drawdown: 187 pips
Time in position: 50 %
The same direction signal - does Nothing
The opposite direction signal - does Nothing
[Opening point of the position]
Donchian Channel
Open long at the Up Band
Period - 5
[Closing point of the position]
Stop Limit
Stop - -20
Limit - 30
As a filter, it is useless - Forex rarely gaps and then only on weekends.
BUT if you add "shift" parameter to the indicator, then, it will be useful as a filter - imagine the channel shifted to the right, and then you will see that prices can be below the channel for a long time.
This is a less conventional use, but nonetheless a good one.
Ok I'll try
It is ready. The link is the same. It looks better now 
Yes, looks good.
Forex Software → Forex Strategy Builder (legacy) → Indicator Request: Donchian Channel
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