This indicator calculates and plots Donchian Channels directly on the price chart. It determines the highest high and lowest low over a user-selected lookback period using an optimized monotonic deque algorithm, as well as a middle basis line computed as their
Indicator · Pine Script v4 · On the chart
Donchian Channels Experiment
This indicator plots Donchian channel bands and a midline on the price chart.
GitHub stars43on the repository
Pine versionv4older, still runs
Lines of code28
Settings2inputs
LicenceNone stated
Last update1 year ago23 Sep 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Donchian Channels Experiment finds the highest and lowest values over a user-set length, then draws the upper band, lower band, and their average as the basis. The source setting chooses high and low, or the more extreme of open and close for each band. Changing the length widens or narrows the lookback. It does not generate entries, exits, or alerts.
- Upper and lower Donchian bands
- Basis midline from band average
- High/Low or Close/Open source
- Adjustable channel length
- Overlay on the price chart
Details
Published by
Zettt on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Volatility & bands, Breakout, 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 Source | string | High/Low | donchianChannelSource |
| donchianChannelLength | int | 100 | donchianChannelLength |
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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