Durango indicator (Brian Watt's MA Channels) - Mr Yen and degharbiMagicTrader13 wrote: Wed Dec 11, 2024 10:22 pm Hey! Hope everyone has a great holiday season!
In tradingveiw there is indicator called "Durango - Mr Yen" and I was wondering if anyone could translate it to MT4
Hello, think this is close to the same.
What is the Durango indicator?
The Durango chart serves as a directional tool for traders.
It is particularly effective in assisting traders in determining whether to take a short or long position, as the multipliers of the Keltner channels signify conditions of extreme overselling or overbuying.
This indicator originates from trader Brian Watt, who specializes in S&P 500 trading and refers to it as the greatest of all time (GOAT) on his YouTube channel. While it is ideally suited for trading Index futures, it can also be applicable to Stocks, Forex and Crypto provided that the parameters are adjusted and back-tested accordingly.
The channel multipliers are contingent upon the specific instrument being traded, necessitating adjustments and fine-tuning for each individual asset. For instance, multipliers of 3.1, 9.1, and 18 appear to be effective for trading the Nasdaq.
