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Forex Forum → Technical Indicators → How to use modified Donchain channel indicator?

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Topic: How to use modified Donchain channel indicator?

Hi all,

I would like to open position if closing price is higher that highest price from last previous n bars.

How can I implement such strategy?

Re: How to use modified Donchain channel indicator?

You can use Donchian Channel  indicator with a logic rule: "The bar opens above Upper Band".

This is actually Open price is higher than the highest High of last n bars. Where n is the period of Donchian Channel. It may work because Open is virtually equal to previous Close.

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