This strategy plots VWMA-based Bollinger bands on the 1-minute ES futures price chart for volatility analysis and potential breakout identification. It calculates dynamic long and short stop loss and take profit levels using percentage inputs relative to entry
Strategy · Pine Script v5 · On the chart
Donchian Channel Breakout
Donchian Channel Breakout is a Pine Script v5 strategy drawn on the price chart.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code41
Settings3inputs
LicenceMIT
Last update7 months ago22 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
41 lines of Pine Script v5 from references/pinescript-examples/breakout.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
strategy("Donchian Channel Breakout", overlay=true, initial_capital=10000, default_qty_type=strategy.percent_of_equity, default_qty_value=100, commission_type=strategy.commission.percent, commission_value=0.1)
// === INPUTS ===
dcLength = input.int(20, "Donchian Channel Period", minval=5, maxval=200)
atrLength = input.int(14, "ATR Period for Trailing Stop", minval=5, maxval=50)
atrMultiplier = input.float(2.0, "ATR Trailing Stop Multiplier", minval=0.5, maxval=5.0, step=0.1)
// === INDICATORS ===
dcUpper = ta.highest(high, dcLength)
dcLower = ta.lowest(low, dcLength)
dcMiddle = (dcUpper + dcLower) / 2
atrValue = ta.atr(atrLength)
// === SIGNALS ===
// Long on upper channel breakout
longCondition = ta.crossover(close, dcUpper[1])
// Short on lower channel breakout
shortCondition = ta.crossunder(close, dcLower[1])
// === EXECUTION ===
if longCondition
strategy.entry("Long", strategy.long)
if shortCondition
strategy.entry("Short", strategy.short)
// Trailing stop using ATR
if strategy.position_size > 0
trailStop = close - atrValue * atrMultiplier
strategy.exit("Long Trail", "Long", stop=trailStop)
if strategy.position_size < 0
trailStop = close + atrValue * atrMultiplier
strategy.exit("Short Trail", "Short", stop=trailStop)
// === PLOTTING ===
plot(dcUpper, "DC Upper", color=color.green, linewidth=2)
plot(dcLower, "DC Lower", color=color.red, linewidth=2)
plot(dcMiddle, "DC Middle", color=color.gray, linewidth=1, style=plot.style_cross)
fill(plot(dcUpper, display=display.none), plot(dcLower, display=display.none), color=color.new(color.blue, 90))
Overview
Donchian Channel Breakout enters long when close crosses above the previous upper Donchian band and short when close crosses below the previous lower band, reversing with the opposite signal. An ATR trailing stop closes the position; the stop sits a user-set ATR multiple away from the current close. Channel length, ATR length, and the multiplier are the main inputs. Size defaults to full equity with a percent commission, and there is no separate take-profit target.
- Donchian upper and lower breakout entries
- ATR trailing stop
- Channel midline and band fill
- Full-equity position sizing
- Long and short reversals
Details
Published by
AlnurM on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Breakout, Volatility & bands, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Donchian Channel Period | int | 20 | dcLength |
| ATR Period for Trailing Stop | int | 14 | atrLength |
| ATR Trailing Stop Multiplier | float | 2.0 | atrMultiplier |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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