DonchianChannelDown
ProRealTime v11Returns the Donchian channel lower line (lowest low of last X periods).
Syntax:
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1 |
DonchianChannelDown[period] |
Where “period” is used to determine the lowest Low price between the current bar and period bars ago.
Donchian Channel Calculation The upper line of the Donchian channel shows the highest high of the last n periods. The lower line shows the lowest low of the last n periods. The middle line shows the average of the upper and lower line value.
Interpretation The Donchian channel allows you to easily see market volatility : if the channel is narrow, volatility is low. If the channel is wide, volatility is high.
A bullish signal is given when price closes above the donchian channel upper line.
A bearish signal is given if price closes below the donchian channel lower line.
