New Donchian price channel alert indicator with some Projectreaper spices.
This indicator originally designed by Richard Donchian, and used by a huge number of traders as an addition to their strategy or in the classic Donchian channel strategy
It gives signals when the price breaks through the opposite levels of the channel.
You can choose the type of price channel based on the open/close prices or on the high/low ones, timeframe, and smoothing.
Supported Features :
Projectreaper Connect – USER GUIDE
Projectreaer Trend OS Filters – USER GUIDE
Settings :
TimeFrame – timeframe of indicator (current by default)
DC_Period – period of donchian channel ma
Shift – offset from current bar
PriceType – price type of channel (High/Low, Open/Close)
IndicatorSmooth – amount of smooth (1-off)
IndicatorSmoothMethod – smooth formula
DrawBars – amount of bars to draw indicator data
Alerts
PopupAlert – enable terminal alert windows
SoundAlert – enable sound alerts
ArrowsOnChart – enable draw arrows on price chart
IndicatorArrows – enable draw arrows on indicator sub window
SMSPushAlert – Push alerts to your phone
EmailAlert – Email alerts to your phone
Style
Buy_ArrowColor – color of buy arrows
Sell_ArrowColor – color of sell arrows
Arrows_Width – width of signal arrows
High_Line – color of high range line
Low_Line – color of low range line
Higher Timeframe
Smoothing
How to install :
1. Download file
2. Unzip archive and copy the MQL4 folder from the archive to your terminal Data folder
3. Restart terminal and apply the indicator to a chart
4. Register a valid email with single time donation or log in with previously registered email address.
5. You can switch your broker account any time you need by logging in with previously registered email address
How to find Data folder :
in the terminal click File menu – Open Data Folder
Good trading!
