Donchian Channel 3 (3 ways to display the trend)

This is the Donchian Channel indicator extended version.

You can choose to display the trend in 3 different ways:

traditional one by applying the indicator directly onto the price chart to display the channel formed by the higher highs and lower lows
as a normalized price oscillator with normalized boundaries at 1/-1 (calculated upon the last higher highs and lower lows)
as a normalized price oscillator with dynamic boundaries

The current trend is displayed as a red/green plotted at zero level. The trend change each time the price broke the higher or lower boundaries of the donchian channel.

Indicator converted from mt4 code following a request made in the Italian indicator forum.

//PRC_DonchianChannel3 | indicator
//17.09.2019
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//translated from mt4 version

// --- settings 
ChannelPeriod           = 21
HighLowShift            = 1
ShowMiddle              = 1 //1=true;0=false
ZeroBind                = 1 //1=true;0=false
Normalize               = 1 //1=true;0=false
// --- end of settings 

cprice = customclose
dcUpper  = Highest[ChannelPeriod](high)[HighLowShift]
dcLower  = Lowest[ChannelPeriod](low)[HighLowShift]
dcMiddle = (dcUpper+dcLower)/2.0

if (ZeroBind) then
 if (Normalize) then
  buffer1 =  1
  buffer2 = -1
  diff = (dcUpper-dcMiddle)
  if (diff <> 0) then
   price = (cprice-dcMiddle)/diff
  else
   price = 0
  endif
 else
  buffer1 = dcUpper-dcMiddle
  buffer2 = dcLower-dcMiddle
  price = (cprice-dcMiddle)
 endif
else
  buffer1 = dcUpper
  buffer2 = dcLower
  price = cprice
endif

trendp  = trendp[1]
trend   = trend[1]

if (dcUpper>dcUpper[1]) then
t rend =  1
endif
if (dcLower<dcLower[1]) then
t rend = -1
endif

buffer3=undefined
if (ShowMiddle) then
 if (ZeroBind) then
  buffer3 = 0
 else
  buffer3 = (buffer1+buffer2)/2
 endif
endif
if (cprice>dcUpper) then
 trendp =  1
endif
if (cprice<dcLower) then
 trendp = -1
endif
if (cprice<dcUpper and cprice>dcLower) then
 trendp =  0
endif

if trend>0 then
 r=0
 g=128
else
 r=255
 g=0
endif


return buffer1 coloured(0,128,0) style(dottedline,1),buffer2 coloured(255,0,0) style(dottedline,1),buffer3 coloured(r,g,0) style(line,2),price coloured(0,191,255) style(line,3) //,buffer4

//PRC_DonchianChannel3 | indicator

//17.09.2019

//Nicolas @ www.prorealcode.com

//Sharing ProRealTime knowledge

//translated from mt4 version

// --- settings

ChannelPeriod = 21

HighLowShift = 1

ShowMiddle = 1 //1=true;0=false

ZeroBind = 1 //1=true;0=false

Normalize = 1 //1=true;0=false

// --- end of settings

cprice = customclose

dcUpper = Highest[ChannelPeriod](high)[HighLowShift]

dcLower = Lowest[ChannelPeriod](low)[HighLowShift]

dcMiddle = (dcUpper+dcLower)/2.0

if (ZeroBind) then

if (Normalize) then

buffer1 = 1

buffer2 = -1

diff = (dcUpper-dcMiddle)

if (diff <> 0) then

price = (cprice-dcMiddle)/diff

else

price = 0

endif

else

buffer1 = dcUpper-dcMiddle

buffer2 = dcLower-dcMiddle

price = (cprice-dcMiddle)

endif

else

buffer1 = dcUpper

buffer2 = dcLower

price = cprice

endif

trendp = trendp[1]

trend = trend[1]

if (dcUpper>dcUpper[1]) then

t rend = 1

endif

if (dcLower<dcLower[1]) then

t rend = -1

endif

buffer3=undefined

if (ShowMiddle) then

if (ZeroBind) then

buffer3 = 0

else

buffer3 = (buffer1+buffer2)/2

endif

if (cprice>dcUpper) then

trendp = 1

endif

if (cprice<dcLower) then

trendp = -1

endif

if (cprice<dcUpper and cprice>dcLower) then

trendp = 0

endif

if trend>0 then

r=0

g=128

else

r=255

g=0

endif

return buffer1 coloured(0,128,0) style(dottedline,1),buffer2 coloured(255,0,0) style(dottedline,1),buffer3 coloured(r,g,0) style(line,2),price coloured(0,191,255) style(line,3) //,buffer4

channel donchian highest high Lowest lows trend trend following

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments :

Filename : download the ITF files

How to import ITF files into ProRealTime platform?

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Sukhdev Golen • 09/17/2019 #
Hi Nicolas, how to use this on tradingview?
- Nicolas • 09/17/2019 #
  You can’t. All codes here are made for the ProRealTime trading platform:
  https://www.prorealtime.com

Maxime Baudin • 09/17/2019 #
Thanks!

Byggtrader • 09/17/2019 #
Hi Nicolas! How do I get the indicator in the price chart? It only stays under i new chart.
- Nicolas • 09/17/2019 #
  Just add it on the price chart by using the wrench on the left upper side of the chart (price settings)

pyhrus P.S : IG , que j'ai contacté ,m'indique que la version V11 , ne sera pas disponible avant un...

Hasardeur Dear Nicolas, is there someting at the arry to modify in order to run the trend at the actu...

MALIMALO Dear Nicolas, just try touse your indicator with backtest but it's not working. is anybody...

ribes65 Bonjour Nicolas, Merci pour votre travail. Est-il envisageable de créer un screener pour ...

Nicolas Bien sûr, merci de formuler une demande dans le forum des screeners pour prorealtime. En res...

ipbvba Est il possible de le transformer en indicateur (pour ne plus avoir les lignes mais uniqueme...

supertiti Bonjour Nicolas, Je ne comprend pas bien , le trend change de couleur quand les prix sont a...

Nicolas Oui ce serait possible, cependant l'indicateur est bien prévu pour conserver la couleur de l...

supertiti Quand tu pourras si tu peux nous coder la troisième couleur cela améliorerait les trades cou...

Nicolas How to import file page: in the help section of the website explains howto

kenssa import through the indicator page/window in the Proreal time

chicoteca Buenas, no consigo que se me muestre en el chart de DAX. ¿Cómo procedo? Gracias.-

Ciccarelli Franco Per lasciare che la strategia venga eseguita (dopo aver importato il file): Basta eliminare...

JADINVEST Hello Jan, hello everyone, Thanks Jan for this strategy! Since 2020, have any of you found a...

Alessandro Furlani Hi Ian, hope you still use PRT and so you can read this post. I have tested a lot your work ...

Stockastiss Can this code be simply transferred into Backtestingcode so one doesnt need to use call ? (i...

Vonasi Sorry for the late reply. Add the code to your strategy and remove line 5 and line 39. Chang...

viktorthunss Hi! How many averages are there? Can I see the somewhere?

leofi https://www.prorealcode.com/topic/simple-average-with-visual-color/

leofi Go visit www.prorealcode.com/topic/simple-average-with-visual-color/ and watch 2em post

Dritan Hi,I am new on Prorealtime and coding.I downloaded the indi but I have it on a separate wind...

Ludwig Bonjour Merci pour le code, je souhaite intégrer un break even et mette en place un réinves...

superfalcio hello, this strategy is pretty interesting, anyway on index after diferent suggestion and im...

Fralex Hello everyone I optimized the original “LongOnly-DAX-4H-TMA-Channel” algorithm over a pe...

Nicolas Just add it on the price series.

yomisadiku Hello Nicolas, Can I use high and low price at lines hh=max(hh,close) and ll=min(ll,close) ...

Nicolas Yes you can do that, the impact will be that the trailing stop line will be much close to th...

Dom Hello, hello....je commence le trading et découvre par la même occasion le codage....et ce n...

Nicolas Merci, ça fait plaisir !

Be-n Bonjour tout le monde ! Dans l'indicateur de tendance, j'ai du mal à saisir la nuance entre ...

Globalmarkets79 Thank you Vonasi for the answer. I have an other question. When i tried to run the indicator...

Vonasi Lines is either 0 or 1 to turn on or off the drawing of them. Once again if you download and...

Globalmarkets79 Thank you Vonasi, this indicator is very helpful!!!

Bateson Merci pour la réponse Nicolas. C'est bien ce que j'ai fait mais ça ne fonctionne toujours pa...

Enzo Paliotti Veramente ottimo, era quello che cercavo, si potrebbe modificare inserendo come variazione a...

Nicolas Perché no, chiedetelo con una descrizione dettagliata nel forum degli indicatori, per favore!

jiddan78 how to convert to afl amibroker ?

Nicolas We do not supply free coding assistance for AFL Amibroker on the website. You can ask for pa...

Ngomsi @ Vonasi, how to use timeframe , 13 minutes ,21 minutes, 34 minutes,et 55 minutes with this...

manchokcity can we have it in mql4 platform? or how or which platform do we use it?

camporan I don't use MetaTrader so I won't be able to do the translation myself. Sorry!

Alexander9 This can for amibroker ? . Thanks

riz001 thnk u

geroniman bonjour Nicolas, j ai un indicateur le Tiger . J aiemrai placer des fleches buy et sell dire...

Nicolas Merci de formuler les demandes sur le forum. ça n'est pas le bon endroit et hors sujet ici ! ;)

Anonymous Hi robertogozzi - thank you very much for sharing this strategy. I have performed various ...

robertogozzi Thank you samsampop.

Dotan Hello guys I really appreciate this coding effort but can I use this code for Mt5 Forex Trad...

ggolfet Thanks Nicolas, I imported the itf file and solved the problem.

Hasardeur Hallo Nicolas, i tried to code the multi period heat map in combination with the Ehler’s ...

Nicolas Please open a new topic with the code in forum.

redactv7 On my charts, the indicator doesnt go on the upper pannel, on prices, but under like an osci...

Nicolas apply in on the chart, look at this how-to video: https://www.prorealcode.com/blog/video-tut...

jonpt88 interesting code thanks!

LucioleLucide Clean view, thanks for sharing

dertopen hi where i can found the window for candle configuration?

paolosab69 Ciao! . I have seen the pictures that explain this metod but i don't understand when is mome...

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