Donchian Channel Break Out strategy

[Leisure]

Is this set up for Marketscope charts?

I see nothing when backtesting nor do I see the channels...

Thanks,

[BlueBloodedTrader]

Is it possible to further develop this strategy to include the following:

1. "Stop" set at a user defined multiple of the 20 period ATR.
2. Keep the existing strategy to enter trade on break of one user defined Donchian channel (perhaps 55) and exit the trade on the break of another Donchian channel (perhaps 20) in the opposite direction (as is the case with this indicator currently). These entry and exit levels will be defined by the user.
3. Trade will stop on the first of either the Stop defined in (1) being hit or the other Donchian Channel being touched as defined in (2).
4. If a trade entry is successfully triggered then for each move of half the 20 day ATR in the money, a new trade is entered (upto 3 more trades making a maximum of 4 concurrent trades) and each time a new trade is opened the STOP, as defined by the calculation in (1), is recalculated based on the most recent trade to be opened and that STOP is used for all of the trades that are opened at that time. For example, the first trade is long at 1.3500 with a stop at 1.3400, and a second trade is subsequently opened long at 1.3550 with a stop at 1.3450, then the stop on the first trade is also moved to the 1.3450, and so on.
5. If a trade is triggered as defined in (4) then, other than the set of upto 3 additional related trades that will be triggered if the price moves in the money, no additional trade entries will be triggered until this set of trades is closed (either by hitting the most recent STOP level as defined in (4) or by hitting the opposite Donchian Channel as defined in (2) for either a profit or a loss)

Thanks for your help with this.

[Apprentice]

Your request has been placed in a developmental cue.

[fxprobie]

Is it possible to modify or create an alternative to this? Ie create an alert when price crosses mid line of Donchian Channel?

[Apprentice]

It is possible.

[ancient-school]

Hi,

Could you please add an option for the direction? i.e.:

Long Only
Short Only
Long & Short

will be Highly Appreciated if it can be done before Monday June 20 / 2011:) ... !!!

[Apprentice]

Option Added

[ancient-school]

What to say now? No words!

Thank YOU ... !!!

[ancient-school]

I wonder ... Could you please add the option below? Just a little more control over the Strategy...

Options to De-Activate Strategy

1. Trade Once
2. Trade Continuously

Option 1. "Trade Once" or more precisely worded, "Trade Till Stop Exit"

This Means it will Trade Once, as per Allowed Side, WILL take further positions if Allow Multiple is Set to YES. But if Stop Exit is Hit, Strategy is De-Activated

Option 2. "Trade Continuously"

This Option is as Strategy is functioning presently, i.e. it Trades all the time and according to All Options selected in Parameters.

I am aware I am overdoing it here now, but if this too can be done before Monday June 20 / 2011, will be Highly Appreciated ... "Offer a Camel your hand, and it sure will take your arm" ...

Much Obliged...

[Apprentice]

It is possible. I hope that someone will find time soon.