It’s called the Doda Donchian strategy for scalping and day trading low spread currency pairs on the lower timeframes i.e. 1-Minute, 5-Minute and Minute. Doda Donchian Metatrader 4 Indicator. A modificated version of the well known turtle indicator with very simple rules to buy and sell currencies. Works with all. In this lesson, we’ll learn how to use Doda Donchian indicator effectively in Forex trading to make money. Doda Donchian is a technical.
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This will not interfere with your chart on the screen. Use higher time frame like H4. Hi, I see that only the ex4 file compiled version is available on this latest version donchiab the Doda Donchian 2. Also a clue as to a take profit point would be nice! Each one gives alert on crossing their respective lines. I ddoa satisfied that you shared this helpful information with us. Doda-Donchian can work with all currency pairs and also with stock market.
How to use Doda Donchian indicator in Forex Trading? When price closes below Doda-Donchian line Stop-loss: Infact, it depends upon traders strategy. Consider your risk-appetite also to place that. Screen alert facility is already in this indicator.
How to filter false signals of Doda-Donchian indicator? | DodaCharts
Insidebars do not count. I got several emails and positive comments on Doda-Donchian indicator posted few weeks back. When there is no new low, the the stoppline stays at the level and is just moved, when an new low was generated. I suggest to use trailing stop-loss as per need. Even if you look at BBSqueeze dark indicator, it also continued in buy zone i. You need to contact some professional coder to convert it in your desired format.
These values are based on pivot points and Fibonacci levels. Works with any currency pair, CFD etc. Dodaa this stage, all the indicators are for MetaTrader 4. Just want to share with you, that stop-loss mentioned here is nothing but the value of Doda-Donchian line.
Could you do a readjustment, that we can do this too? Robert Miner just uses the same with some adjusting.
This is the modified version of Donchian channel indicator, popularly known as famous turtle indicator. Just buy if the price closes above blue line and sell if it closes below blue line.
How to filter false signals of Doda-Donchian indicator?
I need an alert when prices touches or orosses the donchian line. The main difference is of support and resistance lines.
Hope you have learned how to effectively use Doda Donchian indicator in Forex trading. Money management depends upon your trading strategy. The indicator is provided in MeaTrader format.
Changes in this version from ver 1. It works well with stock market also. The best time frame for this indicator is H4. Even if price moves above or below, that does not make any sense for change of signals. You can use this indicator not just to trade in forex market but also in the stock market, commodity market like Gold, Silver etc. I would like to use it but the support and resistance seem to reverse?
Works with any currency pair, CFD etc. Right now it only alerts when price touches or passes the Doca bands. Hi, seems to be a good indicator used together with the ichimuku cloud.
Can Doncihan get the mq4 file dohchian somewhere? And one more clarification Sir, in H4 chart do we need to enter the after completion of the penetrated candle? Leave a Comment Cancel Reply Your email address will not be published.
Thanks 4 ur kindness. Please keep us informed like this. Stop-Orders are used to enter a position. The result is a single line, making a simple but one of the powerful indicator. It should work then. If the price crosses Resistance 1, there are strong chances, it will move till Resistance 2. Doda Donchian is a technical indicator, which you can use in MetaTrader software — the famous forex trading platform. This is the modified version of Donchian channel indicator, popularly known as famous turtle indicator.
Yes, I checked the version — I loaded v2, but nothing is changed from v1. Notify me of follow-up comments by email. You can delete these lines from objects menu and can see their values from top-right screen. Just remove the indicator from the chart and include the new version. I agree with color of main line.