***Alerts Work - Ability To Create Alerts From Main Indicator.
***Can Also Be Used In Conjunction with Upper Indicator - CM_Donchian Channels Modified_V2 With Alert Capability
***Added Ability To Turn On/Off Highlight Bars.
***Added Ability to Turn On/Off Donch Channel Midline
***Added Ability to Turn On/Off Triangles That Plot At Top and Bottom Of Chart When Breakout Condition is TRUE.
Special Indicator Features:
***Ability To Use Different LookBack Period on Upper and Lower Donch Channel Lines.
How To Create Alerts:
***Create Alert by selecting Indicator - Either the name of the Upper Or Lower Indicator...
***Then select either Alert Breakout Upside or Downside(To The Right Of Indicator Name)
***Select Greater Than
***For Value put .99
Original Post Explaining Indicator is -
***If You Need Help Getting Custom Indicators to Trigger Alerts then View This Post.
//Created By ChrisMoody on 12-14-2014 to Set Alerts for CM_Donchonian Channels Modified_V2 //Create Alert by selecting Indicator, then either Alert Breakout Upside or Downside, Select Greater Than, Select Value, for Value put .99 study(title="CM_Donchian Channels Modified_V2_Lower_Alert", shorttitle="CM_DC Modified_V2_Lower_Alert", overlay=false) length1 = input(20, minval=1, title="Upper Channel") length2 = input(20, minval=1, title="Lower Channel") upper = highest(length1) lower = lowest(length2) basis = avg(upper, lower) break_Above = close > upper ? 1 : 0 break_Below = close < lower ? 1 : 0 plot(break_Above, title="Alert Breakout Upside", style=line, linewidth=2, color=lime) plot(break_Below, title="Alert Breakout Downside", style=line, linewidth=2, color=red)
Chris, thanks for this indicator with Alerts! I think this is a great additon as Donchonian Channels are very powerful tools. I think we can expand on this indicator you offered by offering the flip side of the equation. By flipping the inputs for this indicator we can isolate price in a manner which has the potential to show great entries and exits. Think of it as Ichi within a channel band. Compound this indicator with your Alert function and bar highlights filters signals greatly. I love using CCI as a trend filter as well as divergence highlighter. I can elaborate on this further if you wish. Thanks!