This indicator adapts Michael Chalek's Dual Thrust trading concept to plot breakout levels and overlay bands directly on the price chart. It calculates lookback ranges based on historical price action and provides two algorithmic variations along with multiple
Indicator · Pine Script v6 · On the chart
V18 Donchian Channel Breakout
An indicator for one-hour charts that plots a Donchian channel from the highest high and lowest low over a set number of bars.
GitHub stars1on the repository
Pine versionv6current
Lines of code364
Settings9inputs
LicenceNone stated
Last update7 months ago13 Mar 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
A close beyond the prior channel edge marks a long or short breakout, and an ATR-multiple trailing stop line tracks the exit. An optional regime filter uses a daily EMA slope and four-hour ATR rank to block counter-trend entries. Channel fill, trail line and trade labels can each be toggled.
- Donchian channel with fill
- Breakout entry labels
- ATR trailing stop line
- Daily trend regime filter
Details
Published by
snoozie-v on GitHub
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Breakout, Trend, Volatility & bands
Markets
Crypto
Timeframes
M15-H1
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 |
|---|---|---|---|
| Channel Period (1H bars) | int | 78 | channel_period |
| ATR Trailing Stop Multiplier | float | 6.25 | atr_trail_mult |
| ATR Period | int | 14 | atr_period |
| Show Donchian Channel | bool | true | show_channel |
| Show Channel Fill | bool | true | show_channel_fill |
| Show Trailing Stop Line | bool | true | show_trail_stop |
| Show Trade Plan Labels | bool | true | show_trade_labels |
| Show Exit Labels | bool | true | show_exit_labels |
| Enable Trend Filter | bool | true | use_regime_filter |
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.
Similar Pine Scripts
The Market Tradability Engine calculates multi-factor tradability, balance, compression, and direction scores to evaluate market regime quality. It classifies market conditions into eight distinct states, including Balance, Compression, Ready, Breakout, Trend,
This overlay indicator scores breakouts of recent highs and lows against failed-breakout checks, EMA trend alignment, RSI momentum, and an ATR volatility band. It plots green buy and red sell labels when conditions pass a minimum score, and it prints ATR-based
Greeffer's Long Study calculates Donchian Channels alongside a volume moving average filter to generate trade signals. When price touches the lower or upper channel boundaries combined with volume exceeding a custom moving average multiplier, the indicator tri
This overlay indicator plots customized asymmetrical Bollinger Bands on the price chart to detect breakout trade signals. It calculates a middle simple moving average and standard deviation bands using separate standard deviation multipliers for upper and lowe
This indicator plots a four-pole Gaussian channel on the price chart. It filters close prices into a yellow midline and filters true range to place equal green and red bands. A long marker prints when price crosses above the upper band and the daily Bitcoin cl
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers