Donchian Channels (Close) — Indicator by danilogalisteu

This indicator shows Donchian Channels based on close prices only. Additionally, a box with the bands and the center line for the last bar can be shown.

The center line, the bands and the box can be hidden independently.

Four periods are being shown at the moment, but the indicator is easily extensible with copy and paste.

Release Notes:

Added lines showing where price momentum flips between bullish and bearish. Enabled by default for the two longest periods but can be switched on for all.

Release Notes:

Added offset parameter to show box from previous bars.

Release Notes:

Plot changes:
* named all lines
* showing values for hidden lines in status line and data window

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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