VR Donchian - a classic indicator of the Donchian channel built on the tops of local maxima and minima, developed by Richard Donchian, is a variation of the rule of breakdown of the trading interval
This indicator is considered one of the most effective tools for determining a trend or a flat, as well as a general current trend in the market. The indicator works according to the main classic rules for determining the trend.
Trend determination rule:
If the new local maximum is higher than the previous one and the new local minimum is higher than the previous one, then there is an uptrend on the trading instrument.
If the new local maximum is lower than the previous one and the new local minimum is lower than the previous one, then there is a downtrend on the trading instrument.
If we cannot apply either of the two above-described rules to the current trend, then there is no certainty on the trading instrument or otherwise a flat.
Advantages of the indicator:
Suitable for any financial instrument, Forex, Crypto, CFD, Metalls
Not redrawn - the indicator code is written without taking into account the last bar, the readings on all bars except the current one always have constant values.
Easy to install - just drag the mouse over the chart.
Works in the strategy tester, on a demo account and live accounts.
Suitable for both beginners and professionals, the indicator is based on the classic rules of trading.
A large number of settings to help customize the indicator to your taste.
Having the ability to receive messages from the indicator in three ways, Alert on the screen, Push a message to the smartphone and a message to Email. The terminal must first be configured.
Availability of two versions for the terminal MetaTrader 4 and MetaTrader 5
Recommendations for use:
The longer the period at which you use the indicator, the more accurate its readings will be and the more trend (by size) can be determined.
Sharing an indicator with your trading strategy will increase the likelihood of success and reduce the likelihood of losses.
Avoid moments of uncertainty and trade at the time of the news release. No indicator will show where the price will go at the time of the news release.
Pick an indicator period based on the last zone of uncertainty. Put such a period so that there would be no false indications of a trend in the zone of uncertainty.
Use multiple copies of indicators with different periods, for example, the period of the first indicator 21 and the period 48 of the second indicator.
Buy when you break through the upper level and sell when you break through the lower level, good signals are obtained when the price breaks through several lines of different periods of indicators, on the same level.
Video of the indicator VR Donchian
Period Donchian - period for calculating and building the indicator
Show arrow label - show price labels on against indicator lines
Color upper line trend Up - color of the upper line on growth
Color upper line trend Down - the color of the top line while decreasing
Width upper line - top line thickness
Style upper line - top line style
Upper Line Alert - allow receiving signals from the top line
Color average line trend Up - midline color with growth
Color average line trend Down - midline color when low
Width average line - midline thickness
Style average line - midline style
Average Line Alert - allow receiving signals from the midline
Color lower line trend Up - color of the bottom line while growth
Color lower line trend Down - bottom line color when decreasing
Width lower line - bottom line thickness
Style lower line - bottom line style
Lower Line Alert - allow receiving signals from the bottom line
Delta point - the delta in points at which the message will be sent
Type Message - message type, maybe Alert, Push to smartphone, email
19.060 from 11.06.2019 - Code optimization.
Eliminate the error with opening the browser when changing the period of the schedule
22.10.2018 - 18.101 - Fixed text messages
08.10.2018 - 18.100 - The first version of the program
Archive contains files:
For MetaTrader 4
VR-Donchian-RU.ex4 - Program file in Russian
VR-Donchian-EN.ex4 - Program file in English
For MetaTrader 5
VR-Donchian-RU.ex5 - Program file in Russian
VR-Donchian-EN.ex5 - Program file in English
VR Donchian RU.pdf - The help file in Russian language
VR Donchian EN.pdf - The help file in English language
Hereby, in accordance with the Federal law No. 152-FZ "on personal data" dated 27.07.2006, I freely Express my unconditional consent to the processing of my personal data to Pastushak Vladimir Romanovich, registered in accordance with the legislation of the Russian Federation at the address:Rostov-on-don (hereinafter - the Operator).
Personal data - any information relating to a particular or determined on the basis of such information to an individual.
This Consent is issued by me for the processing of the following personal data:
The consent is given to the Operator to perform the following actions with my personal data using automation and/or without the use of such means: collection, systematization, accumulation, storage, clarification (update, change), use, depersonalization, as well as the implementation of any other actions provided by the current legislation of the Russian Federation as manual and automated methods.
This consent is given to the Operator to process my personal data for the following purposes:
providing me with services/works;
sending notifications to me regarding the services/works provided;
preparing and sending responses to my requests;
direction in my address information, including advertising, events/the goods/the services/the works of the Operator.
This consent is valid until its revocation by sending a notice to the email address firstname.lastname@example.org. In case of withdrawal of my consent to the processing of personal data, the Operator has the right to continue processing of personal data without my consent if there are grounds specified in paragraphs 2-11 of part 1 of article 6, part 2 of article 10 and part 2 of article 11 of the Federal law No. 152-FZ "on personal data" dated 27.06.2006.