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Attachments: Donkey (donchian based system)
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Donkey (donchian based system)

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  • Post #1
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  • First Post: Nov 29, 2011 10:49am Nov 29, 2011 10:49am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Really simple.
Based on donchian channel breakout.
Enter long with close above upper donchian channel 20, exit close below low of donchian channel 10.
exact opposite for enter short.
chart may be off a little it was moving really fast in the simulator..
attaching a simulator file goes in experts, click on word buy and drag up to buy, click on buy and drag down to close. same for sell.
Attached Image (click to enlarge)
Click to Enlarge

Name: donkey.gif
Size: 59 KB
Attached Files
File Type: ex4 Donchian Bands.ex4   3 KB | 1,601 download
File Type: tpl donkey6.tpl   3 KB | 988 downloads
File Type: mq4 Training2.mq4   15 KB | 1,124 download
  • Post #2
  • Quote
  • Nov 29, 2011 4:53pm Nov 29, 2011 4:53pm
  •  JeremyWS
  • Joined Oct 2010 | Status: Member | 1,654 Posts
My favourite animal is a donkey, just thought you'd like to know that!

But It does look like a nice little system, however it does seem like you could get a few more pips rather than wait for it to fall to close it. I'd just put a trailing stop and lock in those profits
  • Post #3
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  • Nov 29, 2011 5:21pm Nov 29, 2011 5:21pm
  •  porfirio
  • Joined Jul 2009 | Status: Member | 977 Posts
very interesting jiva

thanks
  • Post #4
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  • Nov 29, 2011 5:47pm Nov 29, 2011 5:47pm
  •  KMidas
  • | Joined Jun 2010 | Status: Member | 412 Posts
That's funny because right now I am playing around with donchian channels and my main problem is how to exit with my profits intact. Courtney Smith sugests that one of the exit signals could be "the bishop". What he calls "The bishop" is adding the ADX(14) indicator under your chart. You get interested on it only if it rises above 40. When it turns from rising to falling, then you have your bishop and you get out of the position. Unfortunately if the break doesn't go far there is a risk you could give money back.

This is the only thing I am struggling to find how to trade these channels.
  • Post #5
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  • Nov 29, 2011 6:34pm Nov 29, 2011 6:34pm
  •  whatfx
  • Joined Jun 2010 | Status: The Villain | 2,565 Posts
Quoting jiva34
Disliked
Really simple.
Based on donchian channel breakout.
Enter long with close above upper donchian channel 20, exit close below low of donchian channel 10.
exact opposite for enter short.
chart may be off a little it was moving really fast in the simulator..
attaching a simulator file goes in experts, click on word buy and drag up to buy, click on buy and drag down to close. same for sell.
Ignored

jiva

i think you have just broken the record for the most threads posted here on forexfactory.

iam curious to know which one of your methods you yourself actually trade ? surely you cannot be using all of them at the same.

well, best of luck in any case.
  • Post #6
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  • Nov 29, 2011 10:08pm Nov 29, 2011 10:08pm
  •  mgs1f
  • | Joined Jan 2009 | Status: Member | 238 Posts
Quoting whatfx
Disliked
jiva

i think you have just broken the record for the most threads posted here on forexfactory.

iam curious to know which one of your methods you yourself actually trade ? surely you cannot be using all of them at the same.

well, best of luck in any case.
Ignored
Just like how some peeps are hooked to Facebook, Gambling, Women some are hooked on Forex Factory.
  • Post #7
  • Quote
  • Nov 29, 2011 11:51pm Nov 29, 2011 11:51pm
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting whatfx
Disliked
jiva

i think you have just broken the record for the most threads posted here on forexfactory.

iam curious to know which one of your methods you yourself actually trade ? surely you cannot be using all of them at the same.

well, best of luck in any case.
Ignored

At present my money is riding on http://www.forexfactory.com/showthread.php?t=326033
  • Post #8
  • Quote
  • Nov 29, 2011 11:51pm Nov 29, 2011 11:51pm
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting mgs1f
Disliked
Just like how some peeps are hooked to Facebook, Gambling, Women some are hooked on Forex Factory.
Ignored
  • Post #9
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  • Nov 30, 2011 12:14am Nov 30, 2011 12:14am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting KMidas
Disliked
That's funny because right now I am playing around with donchian channels and my main problem is how to exit with my profits intact. Courtney Smith sugests that one of the exit signals could be "the bishop". What he calls "The bishop" is adding the ADX(14) indicator under your chart. You get interested on it only if it rises above 40. When it turns from rising to falling, then you have your bishop and you get out of the position. Unfortunately if the break doesn't go far there is a risk you could give money back.

This is the only thing I am...
Ignored
the channel is really good at catching a breakout.
I'm looking at using a gann activator for the exit.
Will test it out but at first glance it looks very very good.
Exit when candle open or closes on the other side of gann.
Attached Image (click to enlarge)
Click to Enlarge

Name: gann.gif
Size: 57 KB
Attached Files
File Type: mq4 Gann Hi-lo Activator SSL Color1.1.mq4   4 KB | 667 downloads
File Type: tpl donkeygann.tpl   3 KB | 483 downloads
  • Post #10
  • Quote
  • Nov 30, 2011 3:13am Nov 30, 2011 3:13am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting jiva34
Disliked
the channel is really good at catching a breakout.
I'm looking at using a gann activator for the exit.
Will test it out but at first glance it looks very very good.
Exit when candle open or closes on the other side of gann.
Ignored
Have tested gann with donchian, but it's not good. still a 20 donchian for entries and a 10 donchian for exits seems to work better. combined with a jump to breakeven after +pips is the best so far. sometimes a trailing stop cuts short a really good run. maybe if it was a big enough trailing stop it might be helpful.
  • Post #11
  • Quote
  • Dec 1, 2011 7:57am Dec 1, 2011 7:57am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
reading book by Curtis Faith, "Way of the Turtles". He describes the system he used to trade commodities and make millions.
he uses a 20 donchian breakout and a 50/300 ma cross. Trade long when 50 above 300 on a donchian breakout up, and short when 50 is below 300 on a donchian breakout down.
Will have to see what reasonable stop is.

the other indi needed (donchian) is on the title page.
Attached Image (click to enlarge)
Click to Enlarge

Name: donkey.gif
Size: 46 KB
Attached Files
File Type: mq4 MA ribbon filled_Alerts1.mq4   5 KB | 624 downloads
File Type: tpl donkey7.tpl   62 KB | 514 downloads
  • Post #12
  • Quote
  • Dec 1, 2011 11:06am Dec 1, 2011 11:06am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting jiva34
Disliked
reading book by Curtis Faith, "Way of the Turtles". He describes the system he used to trade commodities and make millions.
he uses a 20 donchian breakout and a 50/300 ma cross. Trade long when 50 above 300 on a donchian breakout up, and short when 50 is below 300 on a donchian breakout down.
Will have to see what reasonable stop is.

the other indi needed (donchian) is on the title page.
Ignored
using donchian 60 on 1 min chart......
enter long breakout upper channel with 50 above 300
exit prices dip below lower channel.

opposite for short.

good possibility for 1 min chart...
Attached Image (click to enlarge)
Click to Enlarge

Name: donkey.gif
Size: 45 KB
  • Post #13
  • Quote
  • Dec 27, 2011 1:37pm Dec 27, 2011 1:37pm
  •  mrhb30jr
  • Joined May 2010 | Status: Member | 2,416 Posts
Quoting jiva34
Disliked
using donchian 60 on 1 min chart......
enter long breakout upper channel with 50 above 300
exit prices dip below lower channel.

opposite for short.

good possibility for 1 min chart...
Ignored
hi jive34,

thank you very much for your indi, explanation on this thread .......
now i got it...... what should i do ....

cheers
  • Post #14
  • Quote
  • Dec 27, 2011 11:54pm Dec 27, 2011 11:54pm
  •  errich fx
  • | Commercial Member | Joined Mar 2009 | 778 Posts
I never trade with donchian before , after I read this system , it's look interesting. I will try it , thanks


--------

top indicator
  • Post #15
  • Quote
  • Dec 28, 2011 2:29am Dec 28, 2011 2:29am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting mrhb30jr
Disliked
hi jive34,

thank you very much for your indi, explanation on this thread .......
now i got it...... what should i do ....

cheers
Ignored
Am not putting much time or effort into donchian right now. It is a valid system. I'm over here...
http://www.forexfactory.com/showthread.php?t=326033
  • Post #16
  • Quote
  • Dec 28, 2011 2:30am Dec 28, 2011 2:30am
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting errich fx
Disliked
I never trade with donchian before , after I read this system , it's look interesting. I will try it , thanks


--------

top indicator
Ignored
donchian has been traded for very long time. Mostly in stocks market and futures, but in forex too.
I have kinda put this on hold for a while and am working on this
http://www.forexfactory.com/showthread.php?t=326033
  • Post #17
  • Quote
  • Dec 28, 2011 10:44am Dec 28, 2011 10:44am
  •  KMidas
  • | Joined Jun 2010 | Status: Member | 412 Posts
To whom may be interested. I found somewhere in this thread a skeleton for a dashboard and made a dashboard that alerts when we have a new 20 days break in the pairs that I follow. It also displays when we have a new 20 weeks (100 days) high or low. It is based on close. The number 20 is configurable. If someone find's it interesting feel free to use it.
Attached Image (click to enlarge)
Click to Enlarge

Name: donchian_dashboard.png
Size: 13 KB
Attached File
File Type: mq4 Donchian Dashboard.mq4   4 KB | 605 downloads
  • Post #18
  • Quote
  • Dec 28, 2011 2:32pm Dec 28, 2011 2:32pm
  •  jiva34
  • Joined Mar 2009 | Status: Just visiting | 12,891 Posts
Quoting KMidas
Disliked
To whom may be interested. I found somewhere in this thread a skeleton for a dashboard and made a dashboard that alerts when we have a new 20 days break in the pairs that I follow. It also displays when we have a new 20 weeks (100 days) high or low. It is based on close. The number 20 is configurable. If someone find's it interesting feel free to use it.
Ignored
Thanks. Will give it a spin...
  • Post #19
  • Quote
  • Jul 25, 2015 12:02pm Jul 25, 2015 12:02pm
  •  iamgotzaa
  • Joined Feb 2013 | Status: One step closer! | 800 Posts
thanks for the indicator Donchain,

I was looking for it.
Holy grail, pls pm :)
  • Post #20
  • Quote
  • Aug 23, 2015 6:25am Aug 23, 2015 6:25am
  •  Erebus
  • Joined Jul 2011 | Status: Member | 5,604 Posts
WOW, how did they take such a simple method and stuff it up so royally?

Does anyone know of any valid Donchian Channels threads?

Thanks, John
Attached Image (click to enlarge)
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Name: 23-08-2015 8-23-48 PM.png
Size: 70 KB
The two most powerful warriors are patience and time. Leo Tolstoy
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