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The Donchian channel is an indicator that takes a series of user-defined periods and calculates the upper and lower bands. Draw two lines on the graph according to the Donchian channel formula. This straightforward formula is based on: The top line is the highest price for the last periods n The bottom line is the lowest price for the last periods n Trend systems follow periods when support and resistance levels are broken. in this case when the price breaks the upper line or the lower line of
This indicator shows us the trend or direction of the market and a possible stop loss This indicator works with two parameters, period and multiplier. Buy and sell signals are generated when the indicator crosses the closing price and it changes color. This indicator is used in all types of markets such as stocks, futures, forex, cryptos, additionally it can be used in different time periods: hours, daily, weekly, etc. It is recommended not to use it while the market is sideways, this can be
