CM_Donchian Channels Modified_V2_Lower_Alert

***This Indicator was created by user Request to Add Alerts Capabilities for Donchian Channels .

New Features:
***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
***Select Value
***For Value put .99

Original Post Explaining Indicator is -

***If You Need Help Getting Custom Indicators to Trigger Alerts then View This Post.
Remove from Favorite Scripts Add to Favorite Scripts
//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] ? 1 : 0
break_Below = close < lower[1] ? 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!
+1 Reply
coondawg71 coondawg71
ChrisMoody coondawg71
coondawg71... You always give insightful analysis....if possible can you republish these two charts on so we can continue discussion where everyone can see...I'd like to keep all the new "Alert Ready" codes on that discussion.

coondawg71 ChrisMoody
Roger that.
coondawg71 coondawg71
I had a pretty lengthy explanation to chart one and two attached with the second chart posting, but somehow that didn't transfer in my posting of chart two. My apologies. I will repost as per your request and offer details there.
ChrisMoody coondawg71
Great...will be good for the community
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