Doda-Donchian ver 2.0 Released

by admin on December 7, 2010. Updated January 31, 2011 · Featured, Forex, Indicators


Doda-Donchian 2Based on the feedback and some pending features, I’m releasing Doda-Donchian version 2.0 today. Showing sample chart of EURUSD on time frame H4 with Doda-Donchian 2.

 

 

 

EURUSD H4 technical chart using doda-donchian 2

 

Changes in this version from ver 1.0

  • Instead of dotted red-line, I’ve used solid blue line. Red color has been used elsewhere.
  • Shows all the information on top-right corner of the screen instead of bottom-right. This will not interfere with your chart on the screen.
  • Another feature I’ve added in this version is support and resistance lines (dotted red and green lines on screen) with their value on top-right. These values are based on pivot points and Fibonacci levels. If the price crosses Resistance 1, there are strong chances, it will move till Resistance 2. Similarly, if the price fails to get support at Support 1, it’s next target will be Support 2.

Just right-click on the following link and choose Save File As or Save Target As…

Download ver 2.0 from here

 

Please share your feedback on this in comments section below.

Doda-Donchian ver 2.0 Released, 8.7 out of 10 based on 7 ratings

 




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admin December 7, 2010

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{ 55 comments… read them below or add one }

lazim2010 December 20, 2010 at 5:58 pm

I have download your version 2 donchian and found out some error on chart for some pair.

Reply

Wayne ROBERTSON December 28, 2010 at 8:10 am

Downloaded your Ver 2 – looks good. I have applied it to Daily charts however the Support and Resistance lines are very close together and makes price action very crowded – the lines seperate to what I would consider normal using the 10min time frame – anyway to manipulate this

Reply

admin December 28, 2010 at 12:10 pm

The support and resistance lines are based on Fibonacci levels and Pivot levels. As these levels changes daily, the lines become closer on daily chart. It works best on H4 chart. You can delete these lines from objects menu and can see their values from top-right screen.

Hope it will help you
Admin

Reply

dich rustandi January 3, 2011 at 6:16 pm

to outline the basic understanding of what kind of blue,,
whether there is a stand-alone indicator for the blue line, I really need it,,
I am very grateful for her return if the indicator blue lines are included reminders / warnings,,

thank you for sharing this,
and thank you in advance,,

Reply

admin January 4, 2011 at 2:22 pm

This is a stand alone indicator. Just buy if the price closes above blue line and sell if it closes below blue line.

Hope it will help you.
Admin

Reply

kidin January 17, 2011 at 5:52 pm

Hi,

thanks for sharing this great indicator.. mind me asking.. is it good for any pair..??

Reply

admin January 17, 2011 at 6:45 pm

Thanks for positive feedback. Doda-Donchian can work with all currency pairs and also with stock market. I’ve tested with them. But it works best with pair with low volatility like EURUSD pair.

Hope it will help you.
Admin

Reply

lazim2010 January 24, 2011 at 5:14 pm

I just download and used in my acc the errors is still there.

Reply

admin January 24, 2011 at 7:31 pm

I agree Lazim. I’m coding its new version, where you’ll not get such error. Just want to share with you, that stop-loss mentioned here is nothing but the value of Doda-Donchian line.

Hope it will help you.
Admin

Reply

leoforex February 2, 2011 at 7:16 pm

how to set the stop loss when the new signal appear on H4 chart? what is the stop loss point

Reply

admin February 3, 2011 at 9:47 am

There are many ways to setup stop loss. You can use above / below few pips away from Doda-Donchian line. It’s value is displayed on the top-right screen under “Stop Loss” heading. Another way is, use some other indicator like Parabloc SAR. Consider your risk-appetite also to place that. Remember, no indicator is perfect to give perfect value of stop-loss. You’ve to use your experience also. Try them in demo account first before you apply in real account.

Hope it will help you.
Admin

Reply

Alex May 26, 2012 at 12:44 pm

Hi, seems to be a good indicator used together with the ichimuku cloud. Would it be correct that the stop could be trailed with the donchian line, as I’ve noticed that current value of the stop seems to be around that level. It doesn’t suggest an initial SL, but this is up to discretion.

Reply

admin May 26, 2012 at 4:18 pm

Yes, u r right. Doda-Donchian value can act as good stop loss. But sometimes, price can kiss this line and move in the opposite direction. You need to carefully set your stop-loss.
Admin

Reply

Vol February 10, 2011 at 5:46 pm

How to enter with Doda-Donchian v2 ?

It is 12:12 GMT, the signal for EUR/USD fluctuates:
sell 36260
buy 36262
every ~1/2 minutes

Reply

admin February 12, 2011 at 9:11 am

Just wait for the closing of the candle and ignore these flips. Closing is important to take decision. Also, use higher time frame like H4 to get more accurate signals and to avoid false signals.

Hope it will help you.
Admin

Reply

Vol February 10, 2011 at 5:50 pm

just to correct:

sell 1.36260
buy 1.36262

Sorry

Reply

Doc March 31, 2011 at 2:51 am

Just downloaded v2, and get only the red dotted line, not the solid blue line. Yes, I checked the version — I loaded v2, but nothing is changed from v1.

Any suggestions?

Thanks.

Doc

Reply

admin March 31, 2011 at 8:08 am

I agree with color of main line. I’ll change it to blue color in next version. The main difference is of support and resistance lines. Just remove the indicator from the chart and include the new version. It should work then.
Hope it will help you.
Admin

Reply

Gary April 13, 2011 at 12:27 am

I love your Doda-Donchian indicator. I was wondering is there anyway to get emails or texts sent when a fresh signal happens on an open chart?

Reply

admin April 13, 2011 at 6:44 pm

Not now. But I’ve noted down your suggestion and will try to include it in next version release.
Hope it will help you.
Admin

Reply

mimmo May 4, 2011 at 11:09 pm

thanks for the nice good indicator buy why there is no alert ? can you add it plz.

Reply

admin May 11, 2011 at 8:51 pm

There is already screen alert facility in it. Please check that.
Admin

Reply

Tom June 6, 2011 at 1:08 am

When will next version be released?

Thanks

Reply

admin June 10, 2011 at 6:59 pm

Can’t commit any fix time. Will update the blog as and when it is ready.

Admin

Reply

khubss June 28, 2011 at 1:15 pm

sir what is the way to subscribe u i want ur contact no , i want to subscribe you.

Reply

admin June 30, 2011 at 8:03 am

You can subscribe via Email, RSS etc. Link is given at the end of every post to enter your email ID. Also, the following link will also help you for your query.

http://www.dodacharts.com/2011/misc/doda-donchian-or-doda-ema-expert-advisor-ea/

Admin

Reply

Mahesh June 23, 2011 at 6:15 pm

Thank you so much for great indicator i like your web thats help me a lot…thanks again…:)

Reply

admin June 25, 2011 at 7:09 am

Yes, its next version will give you that facility also.
Admin

Reply

admin June 25, 2011 at 7:10 am

Thanks for your positive feedback.
Admin

Reply

Alex June 24, 2011 at 6:52 pm

Hi, I know that someone’s already asked this. I’m assuming by “screen alert” you mean the text on the chart? Are there any plans to add a pop up alert?

Great work by the way, thank you :-)

Reply

Robert August 16, 2011 at 11:19 pm

Hi,
All that seems to be lacking is a pop up alert, if one is trading several currencies one needs a pop up. Also a clue as to a take profit point would be nice!
Thanks, it is a great indicator!

Reply

admin September 12, 2011 at 10:59 am

Sorry for late reply. Screen alert facility is already in this indicator. Booking profit decision can be taken on the basis of U-turn or trailing stop loss. Infact, it depends upon traders strategy. Use H4 time frame on EURUSD and make your own strategy.
Hope it will help you.
Admin

Reply

charley hankins September 6, 2011 at 10:06 pm

Great indicators. I have already made vast improvements on my trading by using them. Thanks very much for sharing. You rock sir.

Charley

Reply

forex September 10, 2011 at 7:11 pm

It?s in reality a nice and useful piece of info. I am satisfied that you shared this helpful information with us. Please keep us informed like this. Thank you for sharing.

Reply

admin September 12, 2011 at 11:00 am

Thanks for your positive feedback. Just subscribe to the website via RSS, email newsletter and get all latest updates.
Hope it will help you.
Admin

Reply

ms119 December 17, 2011 at 6:08 pm

Hi!

many thanks for these useful indicators! I have one question: What is your moneymanagement? You enter with BBands and DonChian but do you really use DonChian for your stop loss or a fixed TP and/or a trailing stops on the 4h chart? Thanks! :-)

Reply

admin December 19, 2011 at 10:13 am

Thanks for positive feedback. Money management depends upon your trading strategy. Depending upon any indicator can not be successful every time. I suggest to use trailing stop-loss as per need. These indicators will help you to take positions in the right direction. The exact values will be useful if you use EA based on them.
Hope it will help you.
Admin

Reply

sbp108 January 12, 2012 at 4:36 pm

How do i import your Doda-Donchian ver 2.0 indicator into metastock 10.1 version ??

Reply

admin January 14, 2012 at 8:10 pm

The indicator is provided in MeaTrader format. You need to contact some professional coder to convert it in your desired format.
Hope it will help you.
Admin

Reply

tjeods January 18, 2012 at 12:23 am

Hi, I see that only the ex4 file (compiled version) is available on this latest version of the Doda Donchian 2. Can I get the mq4 file (code) somewhere? It seems to be available for earlier versions in the MQL4 Code Base but not this latest version. Thanks for all the great work. You indicators a some of the finest available.

Reply

admin February 9, 2012 at 9:08 pm

Thanks for positive feedback. When I provided the source code of version 1, immediately many people changed the code and flooded with their “improved” version and EA. Ofcourse, they were full of bugs and I start getting emails to improve them. So, after that, I’m posting only compiled version.
Hope you understand.
Admin

Reply

BlueOrange February 2, 2012 at 4:51 pm

Hi,

If alerts are generated, How can I enable them?

Would be interesting to get an alert (sound / message) if a new signal is generated.

What is the best timeframe?

Have you an experience with Doda-Donchian applied on DJ30, DAX ….?

Merci +++ for your return.

Reply

admin February 9, 2012 at 8:56 pm

There are no sound alerts at this moment. Will implement this feature in next version. Screen alerts are displayed automatically. The best time frame for this indicator is H4. It works well with stock market also. Try it. I’ve already tested that.

Hope it will help you.
Admin

Reply

Tony Phillips April 18, 2012 at 9:51 pm

Hello,
Just discovered your indicator and very impressed.

Would be great to have a pop up alert if using a number of currencies.
Looking forward to making some progress.

Thank you

Reply

admin April 28, 2012 at 8:38 am

Thanks for positive feedback. Would consider your suggestion in next version.
Admin

Reply

Firdaus April 22, 2012 at 3:43 pm

Excuse me, I couldn’t download this indicator, would U please to email me this indi?
Thanks 4 ur kindness

Reply

admin April 28, 2012 at 8:38 am

You may download the indicator from the link http://www.dodacharts.com/wp-content/uploads/Doda-Donchian2.ex4
Hope it will help you.
Admin

Reply

Firdaus April 22, 2012 at 4:10 pm

How do i set the Take Profit after Opening Position?

I think this indicator will be more impressive if you add a sound alert when there are new positions open signal

thanks

Reply

admin April 28, 2012 at 8:39 am

Would consider the suggestion in the next version.
Admin

Reply

Thomas Bopp October 14, 2012 at 1:36 pm

This is a fine indicator. Robert Miner just uses the same with some adjusting. The stopp from a donchian-HL moves just in cas a new high or low was done.
So a 4-barhigh-stopp is adjusted only to the last new area, when a new low was done.
Insidebars do not count.
When there is no new low, the the stoppline stays at the level and is just moved, when an new low was generated. Could you do a readjustment, that we can do this too?

Reply

admin October 24, 2012 at 11:44 am

Use Doda-Bollinger indicator, given in indicators section. That will filter out false signals of Doda-Donchian and will help you to solve your query.
Admin

Reply

Steven Ly April 16, 2013 at 3:54 pm

I have changed to 48 peroid and run 1H chart time frame, and sit back enjoy the ride, by then you would profit more than 100 pips. rather then jump in and out just for few pips.

Reply

Sachin August 27, 2013 at 10:27 pm

Its a great indicator…trying it for demo account..how ever can a alert be included in this indicator, so that a signal comes, it alerts the user..as being a fully time worker like me needs some alert for the same..

Thank you

Sachin

Reply

Sachin August 27, 2013 at 10:34 pm

And one more clarification Sir, in H4 chart do we need to enter the after completion of the penetrated candle?

Reply

Don September 8, 2013 at 12:57 pm

Nice indicator. I would like to use it but the support and resistance seem to reverse? And has it traded well for you Steven Ly?
Thanks, Don

Reply

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