The Donchian Channels indicator measure volatility. It is a banded indicator similar to Bollinger Bands and Keltner Channels. This indicator determines oversold and overbought market conditions to generate trade signals. Oversold conditions are determined when a candle hits or breaks through the bottom band, whereas overbought conditions are determined when a candle hits or breaks through the top band.
- Exchange Website to monitor
- Currency Pair to monitor for trade signals
- Update Speed
- Trade Signals
- Number of candles (or time periods) before an action is taken.
It is recommended to use this indicator during sideways markets to catch the dips and rises and maximize your profit.