Donchian channel for MetaTrader, NinjaTrader

It is true to say that Donchian channel is the most effective instrument for analyzing charts on stock exchanges. It is because this indicator using support and resistance levels for making decisions. And, as you know, those lines are foundation of the technical analisys.

Richard Donchian was made this system in 1970's as the most precise and popular for trend following. Trader should open long position when the price hit the maximum level of N bars. And he or she should open short position or close the current long if the price hit the minimum level of N bars.

The most popular period for calculation of donchian channel is 20 (number of work days in month). Check the picture below to evaluate the usefullness of this indicator.
Donchann Channel Example

As usual, we integrated take profit, stop loss and trailing stop in order to find the better way for closing position.

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You may download those applications from our forum. This is link for NinjaTrader and this for MetaTrader.

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