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Better Donchian Channels for MT4

1 by ionone
Better Donchian Channels for MT4

This Indicator, which has been created by me from the original Donchian Channel indi, tries to improve the classic indicator by using two different periods, one slow and one fast.

The fast period is used for the lower line when in a uptrend and inversely in a downtrend, thus reducing the channel width accordingly

this allows the channel to be upward in an uptrend, facilitating the position triggering according to the trend.

you can also change the width of the channel, and the amount it shifts the channel vertically during a trend (ATRDistMul)

NORMAL DONCHIAN
screenshot.503.jpg
BETTER DONCHIAN
screenshot.502.jpg
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These users thanked the author ionone for the post (total 9):
Jimmy, Pepel, Tradehunter, RodrigoRT7, kvak, Intrest 1, dmnik, Zenta, boytoy

Re: Better Donchian Channels for MT4

2 by Intrest 1
ionone wrote: Thu Jan 25, 2024 8:17 pm This Indicator, which has been created by me from the original Donchian Channel indi, tries to improve the classic indicator by using two different periods, one slow and one fast.

The fast period is used for the lower line when in a uptrend and inversely in a downtrend, thus reducing the channel width accordingly

this allows the channel to be upward in an uptrend, facilitating the position triggering according to the trend.

you can also change the width of the channel, and the amount it shifts the channel vertically during a trend (ATRDistMul)

NORMAL DONCHIAN
screenshot.503.jpg

BETTER DONCHIAN
screenshot.502.jpg
How does the indicator detect a change in trend in order to determine which line is fast and which line is slow?

Re: Better Donchian Channels for MT4

3 by ionone
Intrest 1 wrote: Sun Jan 28, 2024 6:29 am How does the indicator detect a change in trend in order to determine which line is fast and which line is slow?
it uses a separate donchian to detect trends and checks upper or lower band reversals.

as soon as the upper bands reverses to the upside, it triggers a bullish trend

as you can see on regular donchian, one band is always earlier to reverse, that's the band we'll use to detect trends

the other band gets assigned a smaller period to make the reversal earlier and the channel narrower

and finally you can notice that the channel is very wide in range markets, and tends to be smaller in range market. I think it could be used to trade only whern the channel is narrower and thus in a trend.
These users thanked the author ionone for the post:
Intrest 1

Re: Better Donchian Channels for MT4

4 by p1ps_surfer
ionone wrote: Thu Jan 25, 2024 8:17 pm This Indicator, which has been created by me from the original Donchian Channel indi, tries to improve the classic indicator by using two different periods, one slow and one fast.

The fast period is used for the lower line when in a uptrend and inversely in a downtrend, thus reducing the channel width accordingly

this allows the channel to be upward in an uptrend, facilitating the position triggering according to the trend.

you can also change the width of the channel, and the amount it shifts the channel vertically during a trend (ATRDistMul)

NORMAL DONCHIAN
screenshot.503.jpg

BETTER DONCHIAN
screenshot.502.jpg
pretty close to Motion to Action (MTA)
These users thanked the author p1ps_surfer for the post:
boytoy

Re: Better Donchian Channels for MT4

8 by boytoy
ionone wrote: Mon Jan 29, 2024 8:06 pm my indi assigns different periods to upper and lower bands but that's the only valid comparison
both are completely different otherwise
Hi Jeff I really like it they are definitely better than standard Donchian Channels because they lag less and don't overshoot as bad if you using a smaller period. You surprise everyone with your codes thank you for the source too. Using the Better Donchian Channels I have adjusted Periods 1 & 2 to a 34 setting and work well for me on the one hour.
Better Donchian Channels MT4.png
These users thanked the author boytoy for the post (total 3):
ionone, galaxy, Jimmy

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