millerrh

Donchian Breakout Strategy

This strategy buys when the Donchian Channel is broken to the upside and uses the lower Donchian Channel line as a trailing stop. You can also choose to use a moving average as a filter to keep you out of trades that are counter trend.

You can also configure which dates you want to backtest, so you can see how this behaves over specific time frames and market cycles.
Release Notes: Added the ability to select different lookback periods for upper and lower bands. Results seem to be better with higher numbers for the upper band and lower numbers (tighter stops) for the lower band.
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.

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