OPEN-SOURCE SCRIPT
stelaraX - Donchian Channel
stelaraX – Donchian Channel
stelaraX – Donchian Channel is a classic price channel indicator designed to track market extremes over a defined lookback period. The indicator highlights the highest high and lowest low, providing a clear view of price range, breakout levels, and trend strength.
For advanced AI-based chart analysis and automated range interpretation, visit stelarax.com
Core logic
The indicator calculates the Donchian Channel using a user-defined period:
* upper band represents the highest high over the selected period
* lower band represents the lowest low over the selected period
* middle line represents the midpoint between upper and lower bands
This structure allows traders to quickly identify range boundaries and directional bias.
Visualization
The script plots:
* the upper Donchian Channel line
* the lower Donchian Channel line
* a central midpoint line
The area between the upper and lower bands can be filled with a semi-transparent color to clearly visualize the active trading range. All colors are fully customizable.
Use case
This indicator is intended for:
* breakout and trend-following strategies
* identifying support and resistance ranges
* volatility and range expansion analysis
* channel-based trade management
* multi-timeframe range evaluation
For a fully automated AI-driven chart analysis solution, additional tools and insights are available at stelarax.com
Disclaimer
This indicator is provided for educational and technical analysis purposes only and does not constitute financial advice or trading recommendations. All trading decisions and risk management remain the responsibility of the user.
stelaraX – Donchian Channel is a classic price channel indicator designed to track market extremes over a defined lookback period. The indicator highlights the highest high and lowest low, providing a clear view of price range, breakout levels, and trend strength.
For advanced AI-based chart analysis and automated range interpretation, visit stelarax.com
Core logic
The indicator calculates the Donchian Channel using a user-defined period:
* upper band represents the highest high over the selected period
* lower band represents the lowest low over the selected period
* middle line represents the midpoint between upper and lower bands
This structure allows traders to quickly identify range boundaries and directional bias.
Visualization
The script plots:
* the upper Donchian Channel line
* the lower Donchian Channel line
* a central midpoint line
The area between the upper and lower bands can be filled with a semi-transparent color to clearly visualize the active trading range. All colors are fully customizable.
Use case
This indicator is intended for:
* breakout and trend-following strategies
* identifying support and resistance ranges
* volatility and range expansion analysis
* channel-based trade management
* multi-timeframe range evaluation
For a fully automated AI-driven chart analysis solution, additional tools and insights are available at stelarax.com
Disclaimer
This indicator is provided for educational and technical analysis purposes only and does not constitute financial advice or trading recommendations. All trading decisions and risk management remain the responsibility of the user.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.