Donchian Channel Ribbon (Heatmap) Histogram for MT4

Request to transfer to MT4
Trend histogram ( lowest line ) have two mode on first signals or all signals....

How does it work?

The Donchian Trend Ribbon Heatmap utilizes Donchian Channels to create a trend overview histogram. When zoomed out, it can be used as a heatmap.

• It determines the main trend direction based on a length that you can set yourself, allowing for customization.
• Next, it assesses the trend direction for each of the 9 shorter lengths. For example, if you set the length to 20, the shorter lengths will be 19, 18, down to 11.
• It then checks if the trend directions from these shorter lengths match the main trend direction.
• Based on this, it alters the color of the trend ribbon.

Caution: Entry points might also indicate a trend reversal, so it's important to use a stop-loss line if you choose to enter buy or sell positions.

MagicTrader13 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

Durango indicator (Brian Watt's MA Channels) - Mr Yen and degharbi

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.

mrtools wrote: Thu Dec 12, 2024 2:18 am Hello, think this is close to the same.

Superb! Thanks

mrtools wrote: Thu Dec 12, 2024 2:18 am Hello, think this is close to the same.

Dear Mr.Tools,

If available, could you pls make this indicator MTF?

Thanks in advance.

Chunzhao

Durango looks pretty sweet imo. Thanks!

CHUNZHAO wrote: Thu Dec 12, 2024 1:52 pm Dear Mr.Tools,

If available, could you pls make this indicator MTF?

Thanks in advance.

Chunzhao

Durango indicator with Multi-timeframe mode (MTF)

Hello, added mtf

mrtools wrote: Sat Oct 22, 2022 3:53 pm G Channel indicator (Update)

Little update added separate prices for the bands.

Hi mrtools, I am still here bothering you but I think it may be an interesting request for all those who use this outstanding indicator but want to free up the chart and bring everything into the subwindow of mt4.

Would it be possible to have the same indicator but in subwindow version?

Thank you in advance for both your courtesy and patience!

lukgoku wrote: Sun Dec 15, 2024 9:49 pm Hi mrtools, I am still here bothering you but I think it may be an interesting request for all those who use this outstanding indicator but want to free up the chart and bring everything into the subwindow of mt4.

Would it be possible to have the same indicator but in subwindow version?

Thank you in advance for both your courtesy and patience!

Got this one.

mrtools wrote: Sun Dec 15, 2024 11:09 pm Got this one.

BiG thanks mrtools, it is perfect!

In fact with the addition of smoothing it's even better!

Thanks again