Donchian Channel Indicator  [SOLVED]

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timokrates

Donchian Channel Indicator

Postby timokrates » 19 Dec 2011

Hi,

is it possible to get the Donchian Channel indicator for MC DT?
It's a very common study, nearly every platform offers.

MC DT got the Price Channel, but this one is slightly different - and slighlty is crucial for me in this case.

Thanks!

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TJ
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Re: Donchian Channel Indicator

Postby TJ » 19 Dec 2011

Hi,

is it possible to get the Donchian Channel indicator for MC DT?
It's a very common study, nearly every platform offers.

MC DT got the Price Channel, but this one is slightly different - and slighlty is crucial for me in this case.

Thanks!
You can create the Donchian Channels manually:

1. apply the "Moving Average 1 line" indicator

2. Format the indicator as illustrated in the screen shot. This will give you the Upper Channel.

3. Do the same thing for the Lower Channel, using Lowest(C, 13) as input.


Image
Attachments
Donchian.gif
(12.74 KiB) Downloaded 1878 times

timokrates

Re: Donchian Channel Indicator

Postby timokrates » 20 Dec 2011

Thanks a lot TJ, very helpful.

But my problem is, that it does not frame the price action completely, which is necessary for me because of correct markers in terms of the current highs and lows.

Could you please have a look at the pic. The other one is from SC, which shows, how it should be.

Thanks agin for your support!

Image

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Re: Donchian Channel Indicator

Postby TJ » 20 Dec 2011

Thanks a lot TJ, very helpful.

But my problem is, that it does not frame the price action completely, which is necessary for me because of correct markers in terms of the current highs and lows.

Could you please have a look at the pic. The other one is from SC, which shows, how it should be.

Thanks agin for your support!
you can try these input formulas:

Highest( HIGH, 13)
Lowest( LOW, 13)

timokrates

Re: Donchian Channel Indicator

Postby timokrates » 20 Dec 2011

Thanks TJ,

still not 100% what I'm looking for.

Maybe I have to find another way to highlight areas of highs and lows...

Any chance that the original Donchian indicator will be implemented soon?

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Re: Donchian Channel Indicator

Postby TJ » 20 Dec 2011

Thanks TJ,

still not 100% what I'm looking for.

Maybe I have to find another way to highlight areas of highs and lows...

Any chance that the original Donchian indicator will be implemented soon?
Those are the formula for the Donchian channel. So they should perform the same.


ps.

1. make sure you have set the moving average period to 1.

2. make sure you have entered the Donchian period you want. I have used 13 in the post above.

3. make sure you set the scale to "same as instrument".

timokrates

Re: Donchian Channel Indicator

Postby timokrates » 21 Dec 2011

That's it!

Thanks a lot, TJ!

timokrates

Re: Donchian Channel Indicator  [SOLVED]

Postby timokrates » 21 Dec 2011

Me again,

as mentioned in the other thread I have some problems getting used to the scaling options.

Also in terms of the channels.

How is it possible to display price "independent" of the indicator scaling, so that "price is king" and not the indicator will define the scale range like on my screen.

Image

Scale for price is "screen", indicators are set to "same as instrument".

Thanks again...

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Re: Donchian Channel Indicator

Postby Henry MultiСharts » 21 Dec 2011

The image cannot be opened.
Please attach it to your forum post.

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Re: Donchian Channel Indicator

Postby timokrates » 22 Dec 2011

Maybe this works better...

[img][IMG]http://img4web.com/tbnl/QNQDS5.jpg[/img][/img]

I have to say that I in general have of problem with scaling of indicators which are in the same chart as the price.

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Re: Donchian Channel Indicator

Postby Henry MultiСharts » 22 Dec 2011

Please try to select "Screen" scaling for both - chart instrument and indicator in
Format->Instrument->Scaling and Format->Study->Scaling.
More information about scaling can be found in Multicharts help file (Help->About->Multicharts help-> MultiCharts->Studies->Indicator scaling).

timokrates

Re: Donchian Channel Indicator

Postby timokrates » 22 Dec 2011

That did not solve the issue.

Please have a look. Maybe it's a bug?

[img][IMG]http://img4web.com/tbnl/NBHS54.jpg[/img][/img]

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Re: Donchian Channel Indicator

Postby Henry MultiСharts » 22 Dec 2011

Please come to our live chat Monday-Friday 6:30 am - 4 pm EST to investigate your request.

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Re: Donchian Channel Indicator

Postby TJ » 22 Dec 2011

That did not solve the issue.

Please have a look. Maybe it's a bug?

[img][IMG]http://img4web.com/tbnl/NBHS54.jpg[/img][/img]
If it is a bug, you will not be the only one affected.

In your screen shot, you have clearly chose the first option -- Screen.

You should choose the last option -- Same as Instrument.


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