Donchian Channel Trading system visualised as a cloud.
Regular/Quick inputs;
Length: 20 Entry Length: 20 Stop Length: 10
Alternate/Slower Inputs;
Length: 55 Entry Length: 55 Stop Length: 20
For a more in-depth review, look up "Turtle Trading" rules
The simplest way to use the cloud;
-When the cloud flips from above to below (support), close any shorts and open a long -When the cloud flips from below to above (resistance), close any longs and open a short -Cloud is flipped based on a breakout on the high / low -Most effectively used on the daily, but can be used on any time frame -For traditional markets, an input of 20 is most commonly used -For 24/7 markets, an input of 28 is most commonly used -Find an input that makes the most sense to you!
I appreciate any feedback, feel free to message me on twitter / comment!
Twitter ; @ImWeeknight
Credit to user KivancOzbilgic for helping with the script
Versionsinformation
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Added the resolution option to pin indicators to a time frame if desired