It’s called the Doda Donchian strategy for scalping and day trading low spread currency pairs on the lower timeframes i.e. 1-Minute, 5-Minute and Minute. Doda Donchian Metatrader 4 Indicator. A modificated version of the well known turtle indicator with very simple rules to buy and sell currencies. Works with all. In this lesson, we’ll learn how to use Doda Donchian indicator effectively in Forex trading to make money. Doda Donchian is a technical.
|Published (Last):||13 December 2007|
|PDF File Size:||16.23 Mb|
|ePub File Size:||6.30 Mb|
|Price:||Free* [*Free Regsitration Required]|
Yes, different settings have been tested on previous data and finally the most successful settings have been made the default one.
Doda-Donchian Indicator with stop-loss feature | DodaCharts
If the price crosses Resistance 1, there are strong chances, it will move till Resistance 2. The result is a single line, making a simple but one of the powerful indicator. Could you do a readjustment, that we can do this too? Try it in the MetaTrader 5 terminal.
Doda-Donchian Indicator with stop-loss feature
Works with any currency pair, CFD etc. I have changed to 48 peroid and run 1H chart time frame, and sit back enjoy the ride, by then you would profit more than pips. Link is given at the end of every post to enter your email ID.
Notify me of follow-up comments by email. Thanks, it is a great indicator! Hope it will help you.
These indicators will help you to take positions in the right direction. Thanks very much for sharing. Just wait for the closing of the candle and ignore these flips. I have already made vast xonchian on my trading by using them. There are no sound alerts at this moment.
Another way is, use some other indicator like Parabloc Donchiann. Each one gives alert on crossing their respective lines. Will upload Amibroker codes also, if visitors ask for that.
I have one question: Your email address will not be published. I would like to use it but the support and resistance seem to reverse?
How to filter false signals of Doda-Donchian indicator? | DodaCharts
The rule to follow is. It works well with stock market also. Just buy if the price closes above blue line and sell if it closes below blue line. Your email address will not be published. Skip to content This is the modified version of Donchian channel indicator, popularly known as famous turtle indicator.
Getting Buy or Sell signal Now, let us learn how to get buy or sell signal using this indicator. Skip to content I got donchlan emails and positive comments on Doda-Donchian indicator posted few weeks back. When price closes above Doda-Donchian line Sell: The best part is both the indicator and software are free to download and use.
How to use Doda Donchian indicator in Forex Trading?
You can delete these lines from objects menu and can see their values from top-right screen. Doda Donchian is a technical indicator, donchoan you can use in MetaTrader software — the famous forex trading platform.
Just want to share with you, that stop-loss mentioned here is nothing but the value of Doda-Donchian line. I have applied it to Daily charts however the Support and Resistance lines are very close together and makes price action very crowded — the lines seperate to what I would consider normal using the 10min time frame — anyway to manipulate this.