A Donchian Channel with additional zones at places where its range is smaller than a set amount of atr. Thus it kind of combines with Keltner Channel qualities. Purpose is to set a stop loss wide enough to avoid shaking out of a position. The example chart shows a Philips day chart, where I opened position on 16 juli at 37,50 and set the stop loss at low border...
The Donchian Channel was developed by Richard Donchian and it could be compared
to the Bollinger Bands. When it comes to volatility analysis, the Donchian Channel
Width was created in the same way as the Bollinger Bandwidth technical indicator was.
WARNING:
- This script to change bars colors.
The Donchian Channel was developed by Richard Donchian and it could be compared
to the Bollinger Bands. When it comes to volatility analysis, the Donchian Channel
Width was created in the same way as the Bollinger Bandwidth technical indicator was.
As was mentioned above the Donchian Channel Width is used in technical analysis to measure
volatility....
