The DoubleDonchian can be shown in a separate panel or in the price panel.
When shown in a separate panel there’s a Price Plot that shows you where the price is compared to the Donchian midlines.
The Slow and Fast Donchian midlines will be colored green if the slope is up and red if the slope is down.
Alerts
- When the typical price (median) crosses the slow or fast Donchian midline
- When the price fast Donchian bounces off the slow
Signals
| Strong Long | When both the Slow and Fast Donchian midlines are rising, the Fast is above the Slow and the price is bullish and above the Fast, OR the median of the price is above the Slow and the Fast |
| Weak Long | When both the Slow and Fast Donchian midlines are rising and the price bar is bearish |
| None | When the other conditions aren’t valid |
| Weak Short | When both the Slow and Fast Donchian midlines are falling and the price bar is bullish |
| Strong Short | When both the Slow and Fast Donchian midlines are falling, the Fast is below the Slow and the price is bearish and below the Fast, OR the median of the price is below the Slow and the Fast |
Settings
| Donchian Slow | The period for the slow Donchian midline |
| Donchian Fast | The period for the fast Donchian midline |
| Hide background | Check this if you don’t want the background color. If unchecked the background wil be colored silver when the Donchians don’t match, white in a ‘no trade’ zone, and red or green in a trend zone |
| Show no trade bar colors | If checked the bars that are against the trend will be colored cyan during an uptrend and magenta during a downtrend |
| Plots | The style for the different plots of the indicator |