VR Donchian Lite channel trading indicator
VR Donchian Lite channel trading indicator - is a classic Donchian Channel. The main advantage of this indicator is that it builds a channel according to the classical rules of determining the trend:
- upward trend - new local maximum higher than the previous one and new local minimum higher than the previous one;
- downtrend - a new local high is lower than the previous one and a new local low is lower than the previous one;
- if none of the rules of trend definition can be applied to the current trend, the direction is considered uncertain or a sideways movement (flat).
Advantages of the VR Donchian Lite indicator
- one of the most accurate means of determining a trend, a flat;
- a properly programmed channel algorithm;
- without redrawing;
- there is no channel shift by bars, as in similar indicators;
- The channel is very effective in showing levels for orders stop loss и take profit.
VR Donchian Lite channel trading indicator - is an effective tool, which is perfectly suitable for classical trend trading.
Download VR Donchian Lite trading indicator