ChrisMoody

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.

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?
//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)