DC Panel

Presenting a an indicator based around a Donchian Channel.

The panel has 7 rows where each cell can be either green (long), red (short) or gray (nothing).

Suggestion: Enter (on your own risk...) a trade when all columns have the same color; Exit when any, but the top, column switch color.

The Panel consists of the following, from top to bottom:

1. Price hits the edge of the DC-channel.
2. Price is on the right side of the DC-average line.
3. Price is on the right side of the Baseline
4. PVI is on the right side of the PVI-signal line.
5. Wave-A
6. Wave-B
7. Wave-C
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.

Want to use this script on a chart?


Have you thought about using this on lower timeframes?
kruskakli SavedByTheBellBrent
@SavedByTheBellBrent, no, not really, but perhaps I should give it a try.
this is a great indicator, nice job!
kruskakli TraderSkyr
@TraderSkyr, thanks! I have had a couple of successful trades with it lately.
not working in chart
kruskakli rkrahul86
@rkrahul86, wow, I'm surprised to hear that. I mean it is a pretty simple script.
What time frame are you using and what commodity? Would be nice if I could recreate the problem.
azri43 rkrahul86
@rkrahul86, try to change to other exchanges that show volume like fxcm or oanda