Donchian Channel strategy

Hello,

I am looking for someone that can help me develop a very simple strategy using donchian channel. I am not programmer, however, I could do it but the indicator is not included in the library, and I do not know how to create the strategy with a customs indicator.

Thanks!

The Donchian channel was the what the famed Turtle Trades used. if you google search you will most likely find. based on buying on higher hi and selling on lower lows. if you look at the mt4 codebase page you can find the indicator. shows the highest hi and the lowest low over a given period. say 50 periods. if the highest hi is broken by a higher hi you would buy. interestingly, the Stochastic oscillator will show the same thing. where the price point is in a given period between the highest hi and lowest low. thats one. i like to use it like a pivot point where if you are higher or crossing above the midpoint line (highest high + lowest low) / 2 prices will stay long until the midpoint line is violated. made 300 pips monday with that way. .........(p.s. before you other guys get started, i do not care that it does not work for you)

Hi Don,

Thanks for the explanation. I already have the indicator, however, I need to create en EA based on it.
I have been using manually with FXCM and it works.

Thanks again for the input.

if you have the source code of the indicator i believe we can create EA based on it, just tell me.
and if you wish we can start.

Hello,

Sorry about the delay.

Yes, I have the code.

Here it is.

//+------------------------------------------------------------------+
//| Donchian Channel |
//+------------------------------------------------------------------+

#property copyright 'ps'
#property link ''
//---- indicator settings
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Green
#property indicator_width1 2
#property indicator_width2 2

//---- indicator parameters
extern int periods=24;

//---- indicator buffers
double upper[];
double lower[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
  {
//---- drawing settings
   SetIndexStyle(0,DRAW_LINE);
   SetIndexStyle(1,DRAW_LINE);
   
//---- indicator buffers mapping
   SetIndexBuffer(0,upper);
   SetIndexBuffer(1,lower);
   
//---- name for DataWindow and indicator subwindow label
   IndicatorShortName('Donchian Channel('+periods+')');
   SetIndexLabel(0,'Upper');
   SetIndexLabel(1,'Lower');
   
//---- initialization done
   return(0);
  }
//+------------------------------------------------------------------+
//| now do the dance. |
//+------------------------------------------------------------------+
int start()
  {
   int limit;
   int counted_bars=IndicatorCounted();
//---- last counted bar will be recounted
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;

//---- calculate values
   for(int i=0; i<limit; i++) {
      upper[i]=iHigh(Symbol(),Period(),iHighest(Symbol(),Period(),MODE_HIGH,periods,i));
      lower[i]=iLow(Symbol(),Period(),iLowest(Symbol(),Period(),MODE_LOW,periods,i));
   }
   
   return(0);
  }

I had a guy do one for me, it wasnt just dochian channels it has ATR for entries and exits and MA and trailoing stops. if u want to contact him I can send u his email.