Donchian Channels Trading Strategy

• 11/17/2020 at 7:03 AM #150733
  kalleklovn

  Hi can some one help me code this as you can not use the Donchain channels for trading in proreal time.

  I have a youtube link explaining the strat https://www.youtube.com/watch?v=icYe2SS3-4M

  But if you dont want to watch it and read her it goes.

  You use the 200EMA as a filter from when to buy and sell. Price under only sell price over only buy.

  Then you want to buy when the Donchian Channels make a new high with the stop loss below the lower Donchian Channels low.

  i would also want a trailstopploss to follow the lower band.

  The opposite goes for sell.

   

  Hope some one understands and can help. let me know if something is unclear.

  Have a nice day and happy trading:)

  

  kalleklovn

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  11/17/2020 at 8:33 AM #150739
  robertogozzi

  There you go (not tested):

  Defparam CumulateOrders = false N = 40 LookBack = 50 UpperDonchian = highest[N](high) LowerDonchian = lowest[N](low) Sma200 = average[200,0](close) L1 = close > Sma200 S1 = close < Sma200 L2 = UpperDonchian < UpperDonchian[1] S2 = LowerDonchian > LowerDonchian[1] L3 = UpperDonchian[1] = highest[LookBack](UpperDonchian[1]) S3 = LowerDonchian[1] = lowest[LookBack](LowerDonchian[1]) Lcond = L1 and L2 and L3 Scond = S1 and S2 and S3 If Not OnMarket then NewSL = 0 Else If PositionPerf > 0 Then If LongOnMarket then NewSL = max(NewSL, LowerDonchian) Else NewSL = min(NewSL, UpperDonchian) Endif Endif Endif If Lcond and Not OnMarket then Buy 1 contract at Market Set stop Loss abs(close - LowerDonchian[1]) Set Target pProfit 200 Endif If Scond and Not OnMarket then Sellshort 1 contract at Market Set stop Loss abs(close - UpperDonchian[1]) Set Target pProfit 200 Endif If OnMarket and NewSL > 0 then Sell at NewSL Stop Exitshort at NewSL Stop Endif

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  Defparam CumulateOrders = false N             = 40 LookBack      = 50 UpperDonchian = highest[N](high) LowerDonchian = lowest[N](low) Sma200        = average[200,0](close) L1            = close > Sma200 S1            = close < Sma200 L2            = UpperDonchian < UpperDonchian[1] S2            = LowerDonchian > LowerDonchian[1] L3            = UpperDonchian[1] = highest[LookBack](UpperDonchian[1]) S3            = LowerDonchian[1] = lowest[LookBack](LowerDonchian[1]) Lcond         = L1 and L2 and L3 Scond         = S1 and S2 and S3 If Not OnMarket then    NewSL = 0 Else    If PositionPerf > 0 Then       If LongOnMarket then          NewSL = max(NewSL, LowerDonchian)       Else          NewSL = min(NewSL, UpperDonchian)       Endif    Endif Endif If Lcond and Not OnMarket then    Buy 1 contract at Market    Set stop Loss abs(close - LowerDonchian[1])    Set Target pProfit 200 Endif If Scond and Not OnMarket then    Sellshort 1 contract at Market    Set stop Loss abs(close - UpperDonchian[1])    Set Target pProfit 200 Endif If OnMarket and NewSL > 0 then    Sell      at NewSL Stop    Exitshort at NewSL Stop Endif

   

  

  robertogozzi

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