The channel trading indicator VR Donchian Lite is a tool for constructing the Donchian channel according to the classic rules, which is perfect for trend trading.
The VR Donchian Lite indicator is a classic Donchian Channel. The main advantage of this indicator is that it draws a channel according to the classic trend determination rules:
- uptrend – a new local maximum is higher than the previous one and a new local minimum is higher than the previous one;
- downtrend – a new local maximum is below the previous one and a new local minimum is below the previous one;
- if none of the trend determination rules can be applied to the current trend, the direction is considered to be undefined or sideways (flat).
Benefits of the VR Donchian Lite indicator:
- one of the most accurate tools of determining a trend, flat;
- correctly programmed channel algorithm;
- no repainting;
- there is no channel shift by bars, as in similar indicators;
- the channel very effectively shows the levels for stop loss and take profit orders.
The channel trading indicator VR Donchian Lite is an effective tool that is the best suited for classic trend trading strategies.
Features of VR Donchian Lite MT4 indicator
- Platform: Metatrader 4
- Ability to change settings: Yes
- Timeframe: any from 1 Minute to Daily
- Currency pairs: any
In VR-Donchian-Lite.zip file you will find:
- VR Donchian Lite.ex4
Download VR Donchian Lite MT4 indicator for free: