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ATS Technical Analysis Software

Donchian Channel

NT 8

Indicator Description:
The Donchian Channel is a trend-following indicator and was originally developed by Richard Donchian. With the default option, the Donchian Channel lines will be calculated from the highest high and lowest low over the lookback period. This enhanced version also allows for calculating the channel lines by using the Open, Close, Typical, Median or Weighted price. The indicator is then used to identify breakouts to either one side of the channel lines.

The indicator furthermore comes with a market analyzer trend filter. The default trend definition is determined by a breakout to either side. A blue plot indicates that the highest high of the lookback period has been broken whereas a red plot indicates a break of the lowest low. A neutral trend, as indicated by a yellow plot, occurs when the price retraces beyond the channel midline. The indicator also comes with a fast, slow and composite trend definitions.