TheTurteTrader
- Indicators
- Florian Brauhart
- Version: 1.1
- Updated: 25 November 2024
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:
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UpperChannelPeriod: The number of past bars (including the current bar) used to calculate the upper channel’s highest high.
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LowerChannelPeriod: The number of past bars (including the current bar) used to calculate the lower channel’s lowest low.
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UsePreviousBar: Set to true to calculate channel starting from previous bar, set to false to calculate channel starting from the current bar.