Donchian Channel

Donchian Channel

The Donchian Channel is a technical analysis indicator created by Richard Donchian that tracks the highs and lows reached by the market in a given time frame. The indicator consists of three main lines: an upper, a lower, and a middle line. These lines delineate a channel that helps identify the trend, support and resistance zones, and breakout points.


Using Settings

Clicking on the indicator settings icon will open its configuration window, within which you can make several choices regarding the indicator's functionality.

Parameters

In the Parameters section you can set the Channel periods:

  • Periods: Define the number of periods over which the channel's highs and lows are calculated 

Subgraphs


In the Subgraph section, you can set the colors and style of the Channel, +DI, and -DI:

  • Donchian Channel Color: Set the primary color of the channel line
  • Secondary Color: Set an optional secondary color
  • +DI Color: Set the color of the positive directional indicator line
  • -DI Color: Set the color of the negative directional indicator line
  • Subgraph Style: Choose the display style (Line, Area, etc.)
  • Line Style: Define the line style (Solid, Dashed, Dotted, etc.)
  • Line Width: Define the thickness of the lines
  • Auto Color: Enable or disable automatic color selection
  • Use Secondary Axis: Option to display on a secondary axis

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