OPEN-SOURCE SCRIPT

Weeknights Donchian Cloud

Updated
Donchian Channel Trading system visualised as a cloud.

Regular/Quick inputs;

Length: 20
Entry Length: 20
Stop Length: 10

Alternate/Slower Inputs;

Length: 55
Entry Length: 55
Stop Length: 20

For a more in-depth review, look up "Turtle Trading" rules

The simplest way to use the cloud;

-When the cloud flips from above to below (support), close any shorts and open a long
-When the cloud flips from below to above (resistance), close any longs and open a short
-Cloud is flipped based on a breakout on the high / low
-Most effectively used on the daily, but can be used on any time frame
-For traditional markets, an input of 20 is most commonly used
-For 24/7 markets, an input of 28 is most commonly used
-Find an input that makes the most sense to you!

I appreciate any feedback, feel free to message me on twitter / comment!

Twitter ; @ImWeeknight

Credit to user KivancOzbilgic for helping with the script
Release Notes
Added the resolution option to pin indicators to a time frame if desired
Release Notes
fixed up "upper" and "lower" text
Release Notes
Updated due to TradingView Errors
cloudDonchian Channels (DC)donchianwidthTrend AnalysisturtletraderVolatility

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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