ChrisMoody

CM_Donchian Channels Modified_V2_Lower_Alert

1034 6 169
***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 -
Custom Indicator for Donchian Channels!!! System Rules Included!


***If You Need Help Getting Custom Indicators to Trigger Alerts then View This Post.
New Video On How To Create Alerts w/ Any Custom Indicator!!!
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)
snapshot


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 PRO coondawg71
2 years ago
snapshot
Reply
ChrisMoody PRO coondawg71
2 years ago
coondawg71... You always give insightful analysis....if possible can you republish these two charts on
New Video On How To Create Alerts w/ Any Custom Indicator!!!
so we can continue discussion where everyone can see...I'd like to keep all the new "Alert Ready" codes on that discussion.

Thanks
Reply
coondawg71 PRO ChrisMoody
2 years ago
Roger that.
Reply
coondawg71 PRO coondawg71
2 years ago
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.
Reply
ChrisMoody PRO coondawg71
2 years ago
Great...will be good for the community
Reply
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