I was working today when I suddenly wanted to use this “Candle Display v3 nmc” on MT5. After searching for quite a while, I realized there was no “Candle Display v3 nmc.ex5” file. I also searched for the original author cja's posts, but came up empty-handed. So I created this . It might not be perfect, but it works.Banzai wrote: Wed Nov 05, 2025 8:20 am DONCHIAN CHANNEL 3-CANDLE BREAKOUT
folder01.png
Copy the whole Donchian folder to the Indicators folder.
And put the template in the template folder.
Step 1: Check the Daily Woodie Pivot (DailyWoodiePivot BT.mq4)
Step 2: Check the 5-Weekly High Low (5WeekHL BT.mq4). It's the High and the Low of each week.
Step 3: Check the Currency Strength (Currency_Strength BT.mq4). If USD is strong, then GOLD is going downhill.
Step 4: Check the divergences on the ZeroLag MACD (4,10,5). (ZeroLag MACD 1.02 (MTF) FAST BT.mq4)
Step 5: Now check the Donchian Channel. If you see a green arrow, go LONG.
It's alternating. 1 green box. Then 1 red box. 1 green box. 1 red box, etc...
This indicator checks a group of 3 candlesticks and determines a breakout is to the upside or downside.
Step 6: Confirm with the ikokunomatome indicator. (ikokunomatome ahtf.mq4) If 5 out of 6 are green, go LONG.
MACD (4,10,5) is always lagging behind 1 candlestick. (Not the ZeroLag MACD).
Step 7: Meanwhile, check the Fibonacci Lines of yesterday's High and Low.
Step 8: Use M15 charts or higher timeframes.
I'm sharing it here on forex-station in case anyone else is looking for it.
Thank you, Mr. Banzai, for sharing such a wealth of source code; it has been a tremendous help to me in learning to code. かんぱい! Kanpai !
