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TheTurteTrader

This is the Indicator is free to use and based on my "TheTurtleTrader" EA.

Introducing the Turtle Traders Donchian Channel Indicator – inspired by an advanced trading system by the legendary Turtle Traders of the early 1980s, designed to bring authentic and diverse strategies to your trading portfolio.

Core Strategy:
This Indicator leverages a proven breakout strategy by displaying the highest high or lowest low over a defined period. Whether you prefer quick scalping trades or long holdings during the day, this indicator adapts to fit your trading style.

Input Parameters:

  1. UpperChannelPeriod: The number of past bars (including the current bar) used to calculate the upper channel’s highest high.

  2. LowerChannelPeriod: The number of past bars (including the current bar) used to calculate the lower channel’s lowest low.

  3. UsePreviousBar: Set to true to calculate channel starting from previous bar, set to false to calculate channel starting from the current bar.


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Version 1.1 2024.11.25
Added middle Line and option to use current bar or previous bar to calculate channel.