This is the modified version of Donchian channel indicator, popularly known as famous turtle indicator. I’ve modified it after removing 2 lines. The result is a single line, making a simple but one of the powerful indicator.
Buy: When price closes above Doda-Donchian line
Sell: When price closes below Doda-Donchian line
Stop-loss: Few pips away from Doda-Donchian line.
Works with any currency pair, CFD etc.
MT4 Indicator Download – Instructions
Doda-Donchian with stop-loss feature is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Doda-Donchian with stop-loss feature 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.
How to install Doda-Donchian with stop-loss feature.mq4?
- Download Doda-Donchian with stop-loss feature.mq4
- Copy Doda-Donchian with stop-loss feature.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Doda-Donchian with stop-loss feature.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Doda-Donchian with stop-loss feature.mq4 is available on your Chart
How to remove Doda-Donchian with stop-loss feature.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: