Donchian Channel Mods For ThinkOrSwim

[mrmac]

Hi, I have a very simple donchian channel indicator and would like to add a "shift" (I think it is called shift) function to it, is this possible please?

input length_used_for_calc= 10;
input Use_Other_Time_Frame=yes;
input Time_Frame=aggregationPeriod.DAY;
def h= if use_Other_Time_Frame then high(period=time_Frame) else high;
def l= if use_Other_Time_Frame then low(period=time_Frame) else low;
def highline= highest(high,length_used_for_calc);
def lowline= lowest(low,length_used_for_calc);
Plot High_Line= highline;
high_line.setdefaultColor(color.magENTA);
Plot Low_Line=lowline;
low_Line.setdefaultColor(color.magentA);

 

[horserider]

Maybe you mean "Displace".
You would need;
input displace = x;
plot High_Line= (highline[displace]);
Plot Low_Line=(lowline[displace]);

 

[mrmac]

Maybe you mean "Displace".
You would need;
input displace = x;
plot High_Line= (highline[displace]);
Plot Low_Line=(lowline[displace]);

Thank you very much @horserider - that is exactly what I was looking for. Appreciate your help.

 

[DPM]

Hi -- has anyone played around with TOS's Donchian Channel? Donchian is a great concept but I think TOS has sort of muddied it up (I could be wrong). According to everything I've read, Donchian is a clear upper and lower channel with a clear mid line. TOS seems to ignore the mid line -- it just doesn't exist -- and it has all those short/long enter/exit bubbles, which thankfully be can disabled. So I was really hoping to find a version more like tradingview's. Simple upper/lower channel, mid line, adjustable length, etc.

Thanks

 

[rad14733]

Here is the version I have which has the midline... I also added a cloud...

#Name:             DonchianChannel
#Programmed By:    Chris Ball ([email protected]) on 10/23/08
#Posted At:        http://chartingwithchris.blogspot.com
#Description:      This is a channel system that is used frequently for trend trading.  Google the term "turtle trader" for more information.
#Modified 2020-06-10 by rad14733 to utilize AddCloud()

input length = 20;

plot upperBand = Highest(high[1], length);
plot lowerBand = Lowest(low[1], length);
plot middleBand = (upperBand + lowerBand) / 2;

upperBand.SetDefaultColor(Color.DARK_GRAY);
lowerBand.SetDefaultColor(Color.DARK_GRAY);
middleBand.SetDefaultColor(Color.Orange);

AddCloud(upperBand, lowerBand, Color.DARK_GRAY, Color.WHITE);

 

[rad14733]

Any way I can get rid of the cloud?

Yep...!!! Just place a # comment marker at the start of the AddCloud() line, or delete the line altogether...

 

[fredifreddiefreddy]

Any help will be appreciated. not looking to have someone code this, just some pointers or direction.
I am working with a UST strategy and candles are being painted, what I want to do is count the instances of less than 3 candles between every opening AddOrder and closing AddOrder and have it displayed as a label with % of total AddOrders. yes I can run a report and manually look at it but I want to be able to see at a glance on chart how it is performing. trouble I am running into is not every candle between AddOrder is not an open>close and do I need some sort of counter for AddOrder? I have tried some of the one's here but they dont seem to count the number of AddOrders like the "report" does.
thanks

 

[SleepyZ]

Any help will be appreciated. not looking to have someone code this, just some pointers or direction.
I am working with a UST strategy and candles are being painted, what I want to do is count the instances of less than 3 candles between every opening AddOrder and closing AddOrder and have it displayed as a label with % of total AddOrders. yes I can run a report and manually look at it but I want to be able to see at a glance on chart how it is performing. trouble I am running into is not every candle between AddOrder is not an open>close and do I need some sort of counter for AddOrder? I have tried some of the one's here but they dont seem to count the number of AddOrders like the "report" does.
thanks

This will hopefully help get you started using the Donchian Strategy on GME 1d1m chart on 9/13/2021 data. There are labels explaining some of the statistic code added to the bottom of the following strategy run. I did not work on the 3 bar or less turnaround, but the rest seems to work correctly. There is also a yes/no debug, which you can see as the 1/0 above/below the candles on in the picture below, to assist in coding.

#
# TD Ameritrade IP Company, Inc. (c) 2014-2021
#

input entryLength = 40;
input exitLength = 15;
input atrLength = 20;
input atrFactor = 0.9;
input atrStopFactor = 4.0;
input atrAverageType = AverageType.SIMPLE;

def entryUpper = Highest(high, entryLength)[1];
def entryLower = Lowest(low, entryLength)[1];
def exitUpper = Highest(high, exitLength)[1];
def exitLower = Lowest(low, exitLength)[1];

def atr = reference ATR(length = atrLength, "average type" = atrAverageType);
def volatilityOk = TrueRange(high, low, close)[1] < atrFactor * atr[1];

def buyToOpen = (atrFactor == 0 or volatilityOk) and high > entryUpper;
def sellToOpen = (atrFactor == 0 or volatilityOk) and low < entryLower;
def buyToClose = high > exitUpper;
def sellToClose = low < exitLower;

def position = {default none, long, short};
position = if (buyToOpen or (position[1] == position.long and !sellToClose)) then position.long
    else if (sellToOpen or (position[1] == position.short and !buyToClose)) then position.short
    else position.none;

plot BuyStop;
plot CoverStop;
if (position[1] == position.short) {
    BuyStop = Double.NaN;
    CoverStop = exitUpper;
} else {
    BuyStop = entryUpper;
    CoverStop = Double.NaN;
}

plot ShortStop;
plot SellStop;
if (position[1] == position.long) {
    ShortStop = Double.NaN;
    SellStop = exitLower;
} else {
    ShortStop = entryLower;
    SellStop = Double.NaN;
}

BuyStop.SetDefaultColor(GetColor(3));
CoverStop.SetDefaultColor(GetColor(6));
ShortStop.SetDefaultColor(GetColor(4));
SellStop.SetDefaultColor(GetColor(5));

AddOrder(OrderType.BUY_TO_OPEN, buyToOpen, tickcolor = GetColor(3), arrowcolor = GetColor(3), name = "DonchianLE");
AddOrder(OrderType.SELL_TO_OPEN, sellToOpen, tickcolor = GetColor(4), arrowcolor = GetColor(4), name = "DonchianSE");
AddOrder(OrderType.SELL_TO_CLOSE, sellToClose, tickcolor = GetColor(5), arrowcolor = GetColor(5), name = "DonchianLX");
AddOrder(OrderType.BUY_TO_CLOSE, buyToClose, tickcolor = GetColor(6), arrowcolor = GetColor(6), name = "DonchianSX");

def entryPrice = EntryPrice();

AddOrder(OrderType.SELL_TO_CLOSE, if atrStopFactor != 0 then low < entryPrice - atrStopFactor * atr else no, tickcolor = GetColor(5), arrowcolor = GetColor(7), name = "DonchianATRLX");
AddOrder(OrderType.BUY_TO_CLOSE, if atrStopFactor != 0 then high > entryPrice + atrStopFactor * atr else no, tickcolor = GetColor(6), arrowcolor = GetColor(8), name = "DonchianATRSX");

#Trade Statistics----------------------------------------------
input debug = yes;
plot x = position == position.long;
plot y = position == position.short;
x.SetPaintingStrategy(PaintingStrategy.VALUES_BELOW);
y.SetPaintingStrategy(PaintingStrategy.VALUES_ABOVE);
x.sethiding(!debug);
y.sethiding(!debug);

def nocount  = if (selltoclose[1] or buytoclose[1]) and  y == 0 and x == 0 then 0 else if x == 1 or y == 1 then 0  else nocount[1] + 1;
Addlabel(1, "Curr NoTrade: " + nocount,color.white);

def buycount = if x[1]==0 and x == 1 then 0 else if sum(x[1]==0,2)==2 then 0 else  buycount[1] + 1;
AddLabel(1, "Curr Long: "  + buycount , Color.WHITE);
def sellcount = if y[1]==0 and y == 1 then 0 else if sum(y[1]==0,2)==2 then 0 else sellcount[1] + 1;
AddLabel(1, "Curr Short: "  + sellcount, Color.WHITE);

def buytrades = if x[1] != 1 and x == 1 then buytrades[1] + 1 else buytrades[1];
AddLabel(1, "#Long Trades: " + buytrades, Color.YELLOW);
def selltrades = if y[1] != 1 and y == 1 then selltrades[1] + 1 else selltrades[1];
AddLabel(1, "#Short Trades: " + selltrades, Color.YELLOW);

def ttrades = if position != position[1] then ttrades[1] + 1 else ttrades[1];
AddLabel(1, "Total Trades: " + ttrades);

def torders = Floor(ttrades / 2);
AddLabel(1, "Total Orders: " + torders);

 

[mpardesi]

#DonchianChannels
#mpardesi 05/04/22
# modified thinkorswim and added cloud colors indicating uptrend/downtrend
input DCentryLength = 20;# was 40
input DCexitLength = 20; # was 15
input DCd_atrLength = 20; # was 20
input DCatrFactor = 1.8; # was 4
input DCatrAverageType = AverageType.SIMPLE;

def DCentryUpper = Highest(high, DCentryLength)[1];
def DCentryLower = Lowest(low, DCentryLength)[1];
def DCexitUpper = Highest(high, DCexitLength)[1];
def DCexitLower = Lowest(low, DCexitLength)[1];
def DCWidth = DCentryUpper - DCentryLower;
def DCatr = reference ATR(length =DCd_atrLength, "average type" = DCatrAverageType);
def DCvolatilityOk = TrueRange(high, low, close)[1] < DCatrFactor * DCatr[1];

def DCbuyToOpen = (DCatrFactor == 0 or DCvolatilityOk) and high > DCentryUpper ;
def DCsellToOpen = (DCatrFactor == 0 or DCvolatilityOk) and low < DCentryLower ;
def DCbuyToClose = high > DCexitUpper;
def DCsellToClose = low < DCexitLower;
def DCbuyToOpenStopLoss = low < DCentryLower;
def DCsellToOpenStopLoss = high > DCentryUpper;

plot DCBuyStop;
plot DCCoverStop;
plot DCShortStop;
plot DCSellStop;

DCBuyStop.SetDefaultColor(color.red);
DCBuyStop.SetStyle(Curve.LONG_DASH);
DCBuyStop.SetLineWeight(1);

DCCoverStop.SetDefaultColor(color.yellow);
DCCoverStop.SetStyle(Curve.LONG_DASH);
DCCoverStop.SetLineWeight(1);

DCShortStop.SetDefaultColor(color.green);
DCShortStop.SetStyle(Curve.LONG_DASH);
DCShortStop.SetLineWeight(1);

DCSellStop.SetDefaultColor(GetColor(5));
DCSellStop.SetStyle(Curve.LONG_DASH);
DCSellStop.SetLineWeight(1);

def DCHpositionLong= if (DCbuyToOpen or (DCHpositionLong[1] and !DCsellToClose)) then 1 else 0;
def DCHpositionShort= if (DCsellToOpen or (DCHpositionShort[1] and !DCbuyToClose)) then 1 else 0;

if (DCHpositionShort[1]) {
DCBuyStop = Double.NaN;
DCCoverStop = DCexitUpper;
} else {
DCBuyStop = DCentryUpper;
DCCoverStop = Double.NaN;
}

if (DCHpositionLong[1]) {
DCShortStop = Double.NaN;
DCSellStop = DCexitLower;
} else {
DCShortStop = DCentryLower;
DCSellStop = Double.NaN;
}

plot DCentryBasicline = (DCentryUpper + DCentryLower ) / 2;
plot DCexitBasicline = (DCexitUpper + DCexitLower ) / 2;
DCexitBasicline.SetDefaultColor(color.WHITE);
DCexitBasicline.SetStyle(Curve.LONG_DASH);
DCexitBasicline.SetLineWeight(2);


DefineGlobalColor("TRENDA", color.RED);
DefineGlobalColor("TRENDC", CreateColor(139,34,82));
DefineGlobalColor("TRENDB", Color.LIGHT_GREEN);

AddCloud(DCBuyStop, DCSellStop,GlobalColor("TRENDB"),GlobalColor("TRENDC"));
AddCloud( DCCoverStop,DCShortStop,GlobalColor("TRENDA"),GlobalColor("TRENDC"));