Tang Qian Channel - MetaTrader 5 Script - MQL5 #1601 - MT4/MT5 Resources
Real author:
Richard Dawood Donchian
The Donchian Channel is constructed by taking the highest price (maximum value from high) and lowest price (minimum value from low) of the previous N periods.
When the current price maximum increases to the maximum channel value, the instrument will be bought (a long position will be opened); when the current price bar drops below the minimum channel value, the instrument will be sold (a short position will be opened).
Donchian Channel is an indicator used to observe price fluctuations in the market. If prices stabilize, the Donchian channel will be relatively tight. If the price moves too much, then the Donchian Channel will be wider.
Attachment download
📎 donchian_channel.mq5 (2.84 KB)
Source: MQL5 #1601
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