Smart Donchian

Donchian Channel is an indicator developed by the Richard Donchian that consists of 3 lines, the upper represents the highest price over a pre-set period of time, the lower line represents the lowest price over a pre-set period of time and the mid line is an average of the previous two.

SmartDonchian is a very useful indicator and very to use and it comes with an improved version of the standard Donchian Channel indicator. The idea that stands up behind this indicator is to give the opportunity to have 2 customizable channels instead of just 2 line – upper and lower. Despite this improvement, we also added a few more:

• Three different methods used for the deviation calculation: Range percent, ATR and Standard Deviation
• The possibility to have the zone between the upper/ lower extremes shaded
• Different painting colors of the indicator’s plot, depending on the current trend
• Multiple types of painting, once a candle closes within/ beyond an extreme (Bars paint, Background paint)
• A large variety of signal and alerts: Sound alerts, Email alert, Twitter alert, Pop-up message alert etc.