Dual Donchian Channel Clouds

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Here is a twist on the classic Donchian Channels indicators. Quickly, Donchian Channels show the current price relative to the highest or lowest close over a lookback period. This indicator adds a shorter high/low lookback period to the standard 20 period to create clouds. This makes it very easy to identify the current trend. A simple moving average of the middle line is displayed and acts like dynamic support or resistance since it represents an approximate 50% pullback from a recent high or low.

Trade signals (including reversals and re-entries) can be toggled on or off. These are triggered price moving a user defined number of standard deviations away from the middle line.

Happy Trading!