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Donkey (donchian based system)

  • #1
  • First Post: Nov 29, 2011 9:49am Nov 29, 2011 9:49am
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 File(s)
File Type: ex4 Donchian Bands.ex4   3 KB | 2,026 downloads
File Type: tpl donkey6.tpl   3 KB | 1,339 downloads
File Type: mq4 Training2.mq4   15 KB | 1,510 downloads
  • #2
  • Nov 29, 2011 3:53pm Nov 29, 2011 3:53pm
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
  • #3
  • Nov 29, 2011 4:21pm Nov 29, 2011 4:21pm
very interesting jiva

thanks
  • #4
  • Nov 29, 2011 4:47pm Nov 29, 2011 4:47pm
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.
  • #5
  • Nov 29, 2011 5:34pm Nov 29, 2011 5:34pm
Quoting jiva34
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.

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.
  • #6
  • Nov 29, 2011 9:08pm Nov 29, 2011 9:08pm
Quoting whatfx
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.
Just like how some peeps are hooked to Facebook, Gambling, Women some are hooked on Forex Factory.
  • #7
  • Nov 29, 2011 10:51pm Nov 29, 2011 10:51pm
Quoting whatfx
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.

At present my money is riding on http://www.forexfactory.com/showthread.php?t=326033
  • #8
  • Nov 29, 2011 10:51pm Nov 29, 2011 10:51pm
Quoting mgs1f
Just like how some peeps are hooked to Facebook, Gambling, Women some are hooked on Forex Factory.
  • #9
  • Nov 29, 2011 11:14pm Nov 29, 2011 11:14pm
Quoting KMidas
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...
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 File(s)
File Type: mq4 Gann Hi-lo Activator SSL Color1.1.mq4   4 KB | 983 downloads
File Type: tpl donkeygann.tpl   3 KB | 761 downloads
  • #10
  • Nov 30, 2011 2:13am Nov 30, 2011 2:13am
Quoting jiva34
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.
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.
  • #11
  • Dec 1, 2011 6:57am Dec 1, 2011 6:57am
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 File(s)
File Type: mq4 MA ribbon filled_Alerts1.mq4   5 KB | 940 downloads
File Type: tpl donkey7.tpl   62 KB | 806 downloads
  • #12
  • Dec 1, 2011 10:06am Dec 1, 2011 10:06am
Quoting jiva34
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.
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
  • #13
  • Dec 27, 2011 12:37pm Dec 27, 2011 12:37pm
Quoting jiva34
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...
hi jive34,

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

cheers
  • #14
  • Dec 27, 2011 10:54pm Dec 27, 2011 10:54pm
I never trade with donchian before , after I read this system , it's look interesting. I will try it , thanks


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top indicator
  • #15
  • Dec 28, 2011 1:29am Dec 28, 2011 1:29am
Quoting mrhb30jr
hi jive34,

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

cheers
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
  • #16
  • Dec 28, 2011 1:30am Dec 28, 2011 1:30am
Quoting errich fx
I never trade with donchian before , after I read this system , it's look interesting. I will try it , thanks


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top indicator
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
  • #17
  • Dec 28, 2011 9:44am Dec 28, 2011 9:44am
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(s)
File Type: mq4 Donchian Dashboard.mq4   4 KB | 958 downloads
  • #18
  • Dec 28, 2011 1:32pm Dec 28, 2011 1:32pm
Quoting KMidas
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.
Thanks. Will give it a spin...
  • #19
  • Jul 25, 2015 11:02am Jul 25, 2015 11:02am
thanks for the indicator Donchain,

I was looking for it.
Holy grail, pls pm
  • #20
  • Aug 23, 2015 5:25am Aug 23, 2015 5:25am
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)
Click to Enlarge Name: 23-08-2015 8-23-48 PM.png Size: 70 KB
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