Iso Adjusted Donchian Channel For ToS

D

DPM

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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

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rad14733

rad14733

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

Ruby: 
#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);
 
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rad14733

rad14733

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DPM said:
Just curious -- did you reformat TOS's donchian for the same reasons I mentioned? No mid line, etc?
Click to expand...
In all honesty, I don't recall... I know I added the cloud but can't say whether any other changes were made to the original code... I thought I had a couple other Donchian Channel scripts but may have removed them during housecleaning...
 
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