Donchian indicator is based on HH,LL (higher high,lower low) of given period.I use it to trade in trend following system in combination with some other indicators when price brakes lower or upper band.
Parameters
Period (a = 20)
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1 2 3 4 5 |
Upper = HIGHEST[a](HIGH[1]) Lower = LOWEST[a](LOW[1]) Middle = (Upper + Lower) / 2 RETURN upper AS"uper", lower AS"lower", middle AS"middle" |
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