Donchian Volume uses Donchian channel breakouts confirmed by rising volume to initiate trades.
A move outside the channel on strong volume suggests the start of a new trend.
The strategy enters in the direction of the breakout and exits when price closes back inside the channel or volume wanes.
Stops are set a short distance inside the channel to protect against false moves.
Entry Criteria: indicator signal
Long/Short: Both
Exit Criteria: stop-loss or opposite signal
Stops: Yes, percent based
Default Values:
CandleType = 15 minute
StopLoss = 2%
[*]Filters:
Category: Breakout
Direction: Both
Indicators: Donchian Channel, Volume
Stops: Yes
Complexity: Intermediate
Timeframe: Intraday
Seasonality: No
Neural networks: No
Divergence: No
Risk level: Medium