Best simple trend momentum “Donchian Channel Momentum System” for scalping and swing trading. Richard Donchian created Donchian Channels, which is a type of moving average indicator and a look-alike of other support and resistance trading indicators like Bollinger Bands.
- Time Frame: M5 or higher
- Currency Pairs: GBPUSD and EURUSD
MetaTrader Trading indicators
- AY Donchian Channel
- DHL
- QTI
- RSI
BUY Rules
- AY Donchian Channel: Price closed above the upper channel line
- DHL: Lime bars
- QTI: Lime bars
- RSI: Above the level 55 line
SELL Rules
- AY Donchian Channel: Price closed below the lower channel line
- DHL: Red bars
- QTI: Red bars
- RSI: Below the level 45 line