Donchian Channel
Plots the highest high and lowest low over a chosen lookback.
Start with the input, not the story.
Recent price extremes and channel width.
Plain-language formula
Platform implementations can differ in price input, smoothing, indexing and rounding. Record the exact settings and provider before comparing results.
Where it may help
Objective breakout rules and trailing exits.
Where it struggles
Choppy, directionless regimes with frequent failed extremes.
Add a different measurement.
A complementary tool should answer a different question, such as volatility, regime or position risk. Test the base rule before testing the combination.
The shortcut to avoid
Changing the lookback after every losing sequence.
A testable next step
Evaluate entry and exit lookbacks separately and include next-bar execution.
Download the editable research tool
Source code is provided for education and inspection. It does not place trades. Review, compile in MetaEditor and test on a demo account before any other use.
Download .mq5 source ↓Read install notes, permissions and limitations →