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Donchian Channel for EasyLanguage
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Created: by Big Mike Attachments:4

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Donchian Channel for EasyLanguage

  #11 (permalink)
Elite Member
Trading Experience: Intermediate
Platform: MultiCharts
Broker/Data: IB Canada/IQFeed
Favorite Futures: TF, CL
Posts: 285 since Jul 2011
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canucck View Post

Thanks for replying. Unfortunately, TS can't import that kind of file. I appreciate your posting though.

Try this. Create a new indicator in Tradestation and paste this:


	Channel(0), iUpper(0), iLower(0);

iUpper = Highest(High, Period);
iLower = Lowest(Low, Period);
Channel = (iUpper + iLower) / 2;

Plot1(Channel, "Mean");
Plot2(iUpper, "Upper");
Plot3(iLower, "Lower");

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The following 2 users say Thank You to olobay for this post:
  #12 (permalink)
Elite Member
los angeles, ca
Trading Experience: Beginner
Platform: TOS
Favorite Futures: stocks
Posts: 8 since Aug 2011
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That works - thanks!

I see you are from Montreal - I used to work by the "Big O" at Christie Brown. Boy, I miss those smoked meat sandwiches from Schwartz's and the bagels from the Fauborg Marche!

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The following user says Thank You to canucck for this post:
  #13 (permalink)
Trading Apprentice
Toronto, Ontario
Trading Experience: Intermediate
Platform: multicharts
Favorite Futures: Stock
Posts: 4 since Jan 2015
Thanks: 0 given, 0 received

Tried to import this code into Multicharts

This is what I got when I tried to compile the code?

------ Build started: ------
Study: "Donchian Channel" (Indicator)
Please wait ....
------ Compiled with error(s): ------
Wrong expression
line 9, column 19


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  #14 (permalink)
Hamburg Germany
Trading Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
Posts: 1,892 since Apr 2013
Thanks: 312 given, 1,169 received


my guess is that you didn't import the file, but created a new indicator yourself. Importing the file will work fine and I'd suggest you do that. Otherwise post the full code that gives you trouble, as with only the error message it's hard to guess.


StevenD View Post
This is what I got when I tried to compile the code?

------ Build started: ------
Study: "Donchian Channel" (Indicator)
Please wait ....
------ Compiled with error(s): ------
Wrong expression
line 9, column 19


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  #15 (permalink)
Trading Apprentice
Toronto, Ontario
Trading Experience: Intermediate
Platform: multicharts
Favorite Futures: Stock
Posts: 4 since Jan 2015
Thanks: 0 given, 0 received

Got it....Thanks!

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  #16 (permalink)
Trading Apprentice
New York + US
Trading Experience: Intermediate
Platform: MultiCharts
Favorite Futures: Indian Stocks
Posts: 20 since Aug 2015
Thanks: 8 given, 1 received

Donchian Strategies

Thanks Big Mike...

What could be the possible strategies when Lets say close > x_bars

if I trade with 1 contract then how should I code Buy Entry, StopLoss, Short Entry..

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  #17 (permalink)
Elite Member
Vancouver + Canada
Trading Experience: Intermediate
Platform: Sierra
Favorite Futures: CL UB ES
Posts: 88 since Apr 2015
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Donchian Channel for Multicharts.NET

Multicharts.NET will not import a PLA file.
The Price Channel indicator in does not have a mid line.
I adapted it to include the mid line.
(My first program in C#. Amazing what you can do with cut and paste and change variables)

It appears we cannot upload a PLN file which is the format for the NET program

so here is the code;
open the Price Channel indicator in the editor and make the changes:


using System;
using System.Drawing;

namespace PowerLanguage.Indicator
public class Price_Channel_with_mid : IndicatorObject
private VariableSeries<Double> m_lowerband;

private VariableSeries<Double> m_upperband;

private VariableSeries<Double> m_midband;

private IPlotObject Plot1;

private IPlotObject Plot2;

private IPlotObject Plot3;

public Price_Channel_with_mid(object ctx) :
length = 20;

public int length { get; set; }

public int displace { get; set; }

protected override void Create(){
m_lowerband = new VariableSeries<Double>(this);
m_upperband = new VariableSeries<Double>(this);
m_midband = new VariableSeries<Double>(this);
Plot1 =
AddPlot(new PlotAttributes("UpperBand", 0, Color.Yellow,
Color.Empty, 0, 0, true));
Plot2 =
AddPlot(new PlotAttributes("LowerBand", 0, Color.Yellow,
Color.Empty, 0, 0, true));
Plot3 =
AddPlot(new PlotAttributes("MidBand", 0, Color.Yellow,
Color.Empty, 0, 0, true));


protected override void CalcBar(){
m_lowerband.Value = Bars.Low.Lowest(length, 1);
m_upperband.Value = Bars.High.Highest(length, 1);
m_midband.Value = ((m_upperband.Value+m_lowerband.Value)/2);
if (((displace >= 0) || Bars.CurrentBar > Math.Abs(displace))){
Plot1.Set(displace, m_upperband.Value);
Plot2.Set(displace, m_lowerband.Value);
Plot3.Set(displace, m_midband.Value);
if ((displace <= 0)){
if (this.CrossesUnder(Bars.Low, m_lowerband)){
Alerts.Alert("Price making new low");
if (this.CrossesOver(Bars.High, m_upperband)){
Alerts.Alert("Price making new high");

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