Donchian Trend filter

[strewthmate]

Hi all

This sounds simple but I can't figure out a way to do it without coding (Which I can't do very well)

I want to be able to determine the trend based on the last Donchian channel break.

E.g. 100 period Donchian channel.
if the price breaks above this, the trend is Up.
The trend is based on the LAST channel break so if the price drops below the donchian, the trend is still up until the lower donchian is hit.

Make sense?

Can anyone think of a way of representing this in the wizard either in a strategy or indicator without coding?

Dave

[NinjaTrader_Tim]

Hi strewthmate,

Thank you for your post.

I've created part of the Strategy I believe you are seeking.
The same can be done for the downtrened by adding a Condition and Action set.
You can create an alert as I did here, or another action.

[strewthmate]

Thanks

Thanks

I appreciate that, but I should have expressed myself clearly. I'm looking to create some sort of condition whereby I can back test it.

Would that solution allow me to do that if you change the output to something other than an alert?

Dave

[NinjaTrader_Tim]

Hi strewthmate,

Yes, you can add an action that enters, or exits a position, for example.

[strewthmate]

Q

Thanks

Not sure what action to use to help my back testing I need to go return a value of say 1 or a value like "long" and stay long even if it drops below this level until it hits the lower donchian.

Make sense?

[NinjaTrader_Tim]

Hi strewthmate,

Instead of an alert...
When it crosses above, you can create an "Order Management" action of "Enter long position", with a quantity of 1.

On Set 2, when it crosses below, you can create an action of "Enter short position", with a quantity of 1. Which will exit the long and enter a short.

When you apply the strategy to a chart, you can set the property to only enter once per direction.

[strewthmate]

Q

Thanks once again, but again I failed to express myself properly.

The 100 donchian isn't used for entry signals in itself, but as a trend confirmation. So the action won't be to go long from this alone.

Here's what I want it for:

Go long if price closes above donchian 50
Only if the trend is up.

The trend is determined by the last penetration of the 100 period donchian.

So the 'trend' is up, you're looking for longs above the 50 donchian.
If the trend is up but you don't get a signal from the 50 donchian, no trade. Make sense?

The full rules:

Long only in direction of trend as determined by the last penetration of the 100 period donchian. If the last penetration was upper - long, if lower - short trend only. Only go long if the trend is up.

Entry:
Breakout of 50 period donchian upper
If trend is up

Exit. Break below 20 period donchian
Or 2 X ATR stop (Got this bit)

Hope this makes sense

[NinjaTrader_Tim]

Hi strewthmate,

You can add multiple conditions in the same set.

See attached.