Donchian Oscillator is an indicator of a ratio between the price and the Donchian channel. If the current Close price is above the Donchian channel, the indicator draws a histogram bar with a positive value equal to the distance from the price to the upper channel border. If the current Close price is below the Donchian channel, the indicator draws a histogram bar with a negative value equal to the distance from the lower channel border to the price.
It has one input parameter:
- Period – Donchian channel calculation period
Calculation:
- If Close > Max
Green histogram bar equal to Close – Max
- If Close < Min
Red histogram bar equal to Close – Min
where:
Max, Min – the highest High and the lowest Low within the Period range
MT5 Indicators – Download Instructions
Donchian Oscillator MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Donchian Oscillator MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install Donchian Oscillator MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- Download Donchian Oscillator MT5 Indicator.mq5
- Copy Donchian Oscillator MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Donchian Oscillator MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Donchian Oscillator MT5 Indicator.mq4 is available on your Chart
How to remove Donchian Oscillator MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Donchian Oscillator MT5 Indicator (Free Download)
Click here below to download:
