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 v5 · On the chart
Donchian Channels
This indicator modifies traditional Donchian Channels by applying a weighted moving average to the highest high and lowest low over a customizable period, expanding the bands using twice the 14-period Average True Range.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code31
Settings3inputs
LicenceNone stated
Last update5 months ago27 May 2026
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 calculates and plots upper, lower, and middle basis lines directly on the main price chart with background channel shading. Buy labels trigger when price lows cross under the lower band, and sell labels appear when highs cross above the upper band. Users can adjust the channel lookback length and label colors.
- WMA-smoothed Donchian Channel bands
- ATR-based band width expansion
- Visual buy and sell signal labels
- Customizable lookback length and visual colors
Details
Published by
g-moe on GitHub
Code credit
goodgains, as written in the script's header
Type
Indicator, Pine Script v5
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 |
|---|---|---|---|
| length | int | 20 | length |
| Buy Color | color | #27a69b | buy_color |
| Sell Color | color | #b63632 | sell_color |
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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