Topic: Custom Donchian Channel
Footon has created this lovely indicator that has all sorts of options, I had a peek inside and see that he has equipped the thing to do a lot.
I intend to mine this thing for all it is worth, there has to be a profitable strategy or ten avalable from it.
To do that, I have set up three instances of daily charts to generate from and put that indicator in there with a chain.... allow it to show whatever option it chooses. I use a stop loss and optional take profit and break even.
I am going to let the generator run on these three instances for a few hours and then start to look at the repository and see what I can glean from that.
I am going to find out what other indicators seem to work well with it, which function of the Donchian seems to produce the best results and so on.......... and then refine further....
I can already see that it likes LSMA channel and another instance of itself. (seems Footon has created a lot of valuable indicators for us!)
After a few hours I will have a pretty good idea as to what to put together with this indicator and then look for some results that I can use to trade with.
And this is how I work with every one of them...... until I get the results i want.
I am going to attach a very preliminary result, a lot yet to do with this one, but this is a start.
I like the look of the equity curve, I do not like the max consecutive losses, I do not like the drawdown, but this might be a seed for something a lot better.
I will have to look at it in a couple hours.