Donchian Channel Strategy

If you've read <Way of the turtle>, you must be familiar with Donchian Channel Strategy. This is the second time I share this strategy because of not using English in the last publishment.

Actually, there is a build-in strategy called Channel Break Out Strategy. It is a kind of simplified version of Donchain Channel Strategy. The strategy I share today is complete Donchain Channel Strategy.

There are two differences between this strategy and Build-in Channel Break Out Strategy:

1. Channel Break Out Strategy is always in the market. According to the Channel Break Out Strategy, assuming that you held a long position at first, you will open a short position immediately if you close the long position. It is my script that makes an improvement in this aspect. You can make a distinction between closing long position and open a short position in my script and the time for entering and exiting market can be adjusted by yourself based on 4 parameters.

2. Market trends are taken into account in my script. A short Exponential Moving Average and a long Exponential Moving Average are added to this strategy. You can open a long position only when short EMA is higher then long EMA . On the contrary, short EMA being lower then long EMA is a prerequisite for open a short position.

You can adjust 4 parameters in my script. In the end, I'd like to remind you that different combination of parameters applies to different time period. The default parameters may fit 30M candle and you can try combination of 8-4-5-15 in 1D candle. Of course, you can try another combination of parameters in other time period.

I will write some simple strategies in the future if time allows. So, welcome to follow me if my script can profit you. Happy trading!