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Donchian Channel indicator is originally designed by Richard Donchian. The indicator can capture the price movement and the price trend decently. There is only one parameter to set manually, the number of previous trading sessions, or bars, which has a default value of 20. The highest high, the lowest low and their mean value is calculated which indicates the current support and resistance levels. One can use this indicator to develop his/her own scalping strategy. In the following figure, there is an example how to spot a SELL signal for scalping purposes:
How to install Donchian Channel Indicator – indicator for MetaTrader 4.mq4?
Download Donchian Channel Indicator – indicator for MetaTrader 4.mq4
Copy Donchian Channel Indicator – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your MT4 indicators
Search "Custom Indicators" in your Navigator mostly left in your Metatrader 4 Client
Right click on Donchian Channel Indicator – indicator for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
Indicator Donchian Channel Indicator – indicator for MetaTrader 4.mq4 is available on your Chart
How to remove Donchian Channel Indicator – indicator for MetaTrader 4.mq4 from your Metatrader Chart?
Select the Chart where is the Indicator running in your Metatrader 4 Client
Right click into the Chart
"Indicators list"
Select the Indicator and delete
Click here below to download: