#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Black
#property indicator_color2 Black
#property indicator_color3 Green
#property indicator_color4 Red
extern int ChannelPeriod=28;
extern int EMAPeriod=120;
extern int StartEMAShift=6;
extern int EndEMAShift=0;
extern double AngleTreshold=0.32;
double UpperLine[];
double LowerLine[];
double BuyBuffer[];
double SellBuffer[];
int init()
{
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,UpperLine);
SetIndexLabel(0,"UpperLine");
SetIndexStyle(1,DRAW_LINE);
SetIndexBuffer(1,LowerLine);
SetIndexLabel(1,"LowerLine");
SetIndexStyle(2,DRAW_ARROW,EMPTY);
SetIndexArrow(2,241);
SetIndexBuffer(2,BuyBuffer);
SetIndexLabel(2,"Buy");
SetIndexStyle(3,DRAW_ARROW,EMPTY);
SetIndexArrow(3,242);
SetIndexBuffer(3,SellBuffer);
SetIndexLabel(3,"Sell");
IndicatorShortName("DonchianChannel("+ChannelPeriod+")");
SetIndexDrawBegin(0,ChannelPeriod);
SetIndexDrawBegin(1,ChannelPeriod);
return(0);
}
//+------------------------------------------------------------------+
//| Price Channel |
//+------------------------------------------------------------------+
int start()
{
int i, start ,counted_bars=IndicatorCounted();
int k;
double high,low,price, fEndMA, fStartMA, fAngle;
if(Bars<=ChannelPeriod) return(0);
if(counted_bars>=ChannelPeriod) {
start=Bars-counted_bars-1;
} else {
start=Bars-ChannelPeriod-1;
}
BuyBuffer[0]=0;
SellBuffer[0]=0;
for(i=start;i>=0;i--) {
UpperLine[i]=High[Highest(NULL, 0, MODE_HIGH, ChannelPeriod, i)];
LowerLine[i]=Low[Lowest(NULL, 0, MODE_LOW, ChannelPeriod, i)];
// next 3 lines from jpkfox, EMAAngle.mq4
fEndMA=iMA(NULL,0,EMAPeriod,0,MODE_EMA,PRICE_MEDIAN,i+EndEMAShift);
fStartMA=iMA(NULL,0,EMAPeriod,0,MODE_EMA,PRICE_MEDIAN,i+StartEMAShift);
fAngle = 10000.0 * (fEndMA - fStartMA)/(StartEMAShift-EndEMAShift);
if(UpperLine[i+1]<High[i] && fAngle > AngleTreshold) {
BuyBuffer[i]=High[i];
}
if(LowerLine[i+1]>Low[i] && fAngle < -AngleTreshold) {
SellBuffer[i]=Low[i];
}
if (BuyBuffer[0]!=0) {
Print("Donchian Buy Signal at " + BuyBuffer[0] + " -> " + Symbol() + "/" + Period());
// PlaySound("expert.wav");
}
if (SellBuffer[0]!=0) {
Print("Donchian Sell Signal at " + SellBuffer[0] + " -> " + Symbol() + "/" + Period());
// PlaySound("expert.wav");
}
}
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains the highest prices of each bar
Series array that contains the lowest prices of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Implements a curve of type DRAW_ARROW
Indicators Used:
Moving average indicator
Custom Indicators Used:
Order Management characteristics:
Other Features: