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Forex Indicator "Donchian Channels"

Richard Donchian is a trading legend, who established the trend following systems. Widely recognized Turtle trading system based on his works brought Donchian serious success at relatively old age. Nevertheless, he continued his work and achieved success in online trading.

Donchian Channels form a volatility indicator grounding on three prices: up-to-date, maximum and minimum. This data is necessary for calculation the highest high and the lowest low for a definite period. 

Donchian recommended using a 20-days period to build the Channel, where 20 is an average number of days in a month or other, shorter timeframes. Channels built by the periods of 18-days, 24-days, etc., while Turtle strategy used the 55-days period.

Vast majority of trading strategies using Donchian Channels represent breakout systems with a minor percentage of closed trades. However, these profits used to compensate the losses from the failed trades.

The Channel center line added to the current version of the indicator.

 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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