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Donchian Channel Buy Signal Logic

The document outlines a trading strategy using Donchian channels to determine upper and lower price levels based on recent highs and lows. It includes a condition for identifying a bullish engulfing reversal candle. A buy signal is generated when the current close is above the upper Donchian level, the bullish engulfing condition is met, and the close is below a specified high time frame upper level plus a buffer.

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3 views1 page

Donchian Channel Buy Signal Logic

The document outlines a trading strategy using Donchian channels to determine upper and lower price levels based on recent highs and lows. It includes a condition for identifying a bullish engulfing reversal candle. A buy signal is generated when the current close is above the upper Donchian level, the bullish engulfing condition is met, and the close is below a specified high time frame upper level plus a buffer.

Uploaded by

faucetc630
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

// Donchian

double upper = iHigh(NULL, 0, 1) > iHigh(NULL, 0, 2) ? iHigh(NULL, 0, 1) :


iHigh(NULL, 0, 2);
double lower = iLow(NULL, 0, 1) < iLow(NULL, 0, 2) ? iLow(NULL, 0, 1) :
iLow(NULL, 0, 2);

// Reversal Candle (Ex: Bullish Engulfing)


bool bullish_engulf = (Close[1] > Open[1]) && (Open[1] < Close[2]) &&
(Close[1] > Open[2]);

// Buy signal
if (Close[0] > upper && bullish_engulf && Close[0] < htf_upper + buffer)
{
// Place Buy Order
}

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