The Donchian Channel indicator is a powerful tool that’s been employed by traders around the globe for decades. What does it stand for, and how do traders use it? In this guide, we’ll break down the components of Donchian Channels, how to interpret them, and offer a sample strategy that you can get started with right away. What Is the Donchian Channel...
Hi TV Community. I found the Adoptive Donchain Channel script by user HeWhoMustNotBeNamed to be very useful in drawing Fibonacci Levels. As this script holds the price channel for long, this enables us to draw Fibonacci levels that in my opinion show probable S/R levels much better and eliminates guess work in selecting the Fibonacci High and Low levels to draw...
Hi TV community. You may have used Donchain Channel (DC) in your trading setups. But have you used two in conjunction? Add two DC, one set to 144 period and the other to 21 period. Now, you will be able to see the levels where the shorter DC is providing support or resistance to price. So, when you wish to take a long entry; if price is hitting the low of...
Hi TV Community, I am sharing an idea that might help when when looking for long trades. Read the explanation in the chart. all the best.