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Donchian Trend Monster

  • #1
  • First Post: Edited Jan 2, 2012 11:02am Feb 16, 2011 8:27am | Edited Jan 2, 2012 11:02am
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File Type: mq4 Donchian.mq4   2 KB | 2,253 downloads
File Type: tpl riskmm.tpl   1 KB | 1,200 downloads | Uploaded Jan 2, 2012 10:58am
File Type: mq4 SaintSurfer.mq4   2 KB | 1,492 downloads | Uploaded Jan 2, 2012 11:02am
  • #2
  • Feb 16, 2011 1:31pm Feb 16, 2011 1:31pm
Quoting Saintsurfer
Hi, there is a simple strategy using donchian channel that could be easily automated. That is what I am asking for. I tested it manually it makes about 3250 pips from 2010 until today on eur/usd daily chart. It can be traded manually without a problem but the EA would help a lot to test with different settings and for different pairs. The biggest drowdown in a row was about 1000 pips. Yes it stil requires discipline and patience. All true trend followers know that and admit. Yes it is a trend following strategy. I tested with a 5 days exit after...

Please can you explain the SL and TP again. Also should one set the Donochain indicator to 20?
  • #3
  • Feb 16, 2011 2:20pm Feb 16, 2011 2:20pm
Quoting aelimian
Please can you explain the SL and TP again. Also should one set the Donochain indicator to 20?
It means that the sl will be set by ATR indicator value. As a persentage of it. For example 150 persent of ATR60 on daily chart.
Or an option to put the SL below 1-3 days low for buy orders and above 1-3 days high for sell orders.

Seems this thread were moved from platform tech here,I got shoked when I sow it here. Well I started it with purpose to automate the strategy, but allright thats not a problem.
  • #4
  • Feb 16, 2011 2:49pm Feb 16, 2011 2:49pm
Quoting Saintsurfer
Hi, there is a simple strategy using donchian channel that could be easily automated. That is what I am asking for. I tested it manually it makes about 3250 pips from 2010 until today on eur/usd daily chart. It can be traded manually without a problem but the EA would help a lot to test with different settings and for different pairs. The biggest drowdown in a row was about 1000 pips. Yes it stil requires discipline and patience. All true trend followers know that and admit. Yes it is a trend following strategy. I tested with a 5 days exit after...
I love these kind of systems; Donchian entry with time-based exit. They work especially well on the EUR/USD. Try an 80-day breakout and a 20-day time-based exit. The longer the breakout the more significant it is, breakouts start to really become significant in Forex when they're breaking highs and lows of around 4-6 months. Some details about that here if you are interested. Good luck
  • #5
  • Feb 16, 2011 4:02pm Feb 16, 2011 4:02pm
This should be fairly straight forward to code if I have understood all correctly. For an extra safety net could we try closing the trade if price hasn't made a new high after X amount of time?

I will try to put together an EA for testing purposes as work / family allows assuming no one beats me to it!


dave.
  • #6
  • Feb 16, 2011 4:16pm Feb 16, 2011 4:16pm
Quoting Davidee
I love these kind of systems; Donchian entry with time-based exit. They work especially well on the EUR/USD. Try an 80-day breakout and a 20-day time-based exit. The longer the breakout the more significant it is, breakouts start to really become significant in Forex when they're breaking highs and lows of around 4-6 months. Some details about that here if you are interested. Good luck
Thats good stuf for testing ideas or actually it is already done. Are you trading self this way?
  • #7
  • Feb 16, 2011 4:19pm Feb 16, 2011 4:19pm
Quoting dave0
This should be fairly straight forward to code if I have understood all correctly. For an extra safety net could we try closing the trade if price hasn't made a new high after X amount of time?

I will try to put together an EA for testing purposes as work / family allows assuming no one beats me to it!


dave.
Thats would be great, thanks a lot. Yes definetaly that option will not harm.
  • #8
  • Feb 17, 2011 4:41am Feb 17, 2011 4:41am
Quoting Davidee
I love these kind of systems; Donchian entry with time-based exit. They work especially well on the EUR/USD. Try an 80-day breakout and a 20-day time-based exit. The longer the breakout the more significant it is, breakouts start to really become significant in Forex when they're breaking highs and lows of around 4-6 months. Some details about that here if you are interested. Good luck
In some way the results could be much better if to use compounding. Trend following works even without it , but with compounding it simply explodes and it doesn`t mean that the risk increases adequately. It increases but not the same level. There goes thanks to the trend that gives us an edge.
Thats why it is important to be agresive once we are in trend. That`s how I want to trade it here.
  • #9
  • Feb 18, 2011 1:37pm Feb 18, 2011 1:37pm
I think that your strategy works good in 2010 because it was a very trendy year.
  • #10
  • Last Post: Feb 19, 2011 5:39am Feb 19, 2011 5:39am
Quoting trucheitor
I think that your strategy works good in 2010 because it was a very trendy year.
you are right, it was a good year for trend following.All last four years were good actually, especialy 2009. And there are allways trends that come sooner or later. Trend following always works, just it needs money management discipline and patience to trade. Realistic exspectations as well.
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