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Description |
This formula works in tandem with the DonchianLower formula to render the Donchian Channels study.
The Donchian Channels study is moving average indicator developed by Richard Donchian. It plots the highest high and lowest low over a given number of periods. |
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Formula |
DonchianUpper(INPUT, Period=20)=begin retval = rmax($1, Period) end |
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Parameters |
INPUT The INPUT directive makes this formula available as a Formula Overlay. INPUT refers to the instrument in the chart.
Period The number of periods, or length, of the Donchian Channel sample set. The sample set is the data in which the highest high is identified. The default is 20, or four weeks. |
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Return Value |
The highest high in the sample set. |
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Examples |
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Comments |
The Donchian Channels study is a simple trend-following, breakout system. The signals derived from this system are based on the following basic rules:
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