DonchianChannel using Close

[dynoweb]

When the DonchianChannel plots it's upper and lower lines, I want it to plot based on the close, not the high or the low. How do I configure the indicator for that?

I tried setting the dataseries to Close, but that appears to be the default.

[NinjaTrader_Jason]

Hello dynoweb,

Unfortunately the Donchian channel can't be configured this way. As you mention, the Input series is set to Close by default. However the Donchian channel is calculated using the High and Low regardless of the Input series setting.

Perhaps you can use the SMA for this purpose. If you set Period to 1, it will plot a line for all Close prices of each price bar. The line can be shifted into the future using the Displacement setting. For example, if you enter a value of 5, the SMA line is shifted 5 price bars to the right.

[Domek_69]

Hello dynoweb,

Unfortunately the Donchian channel can't be configured this way. As you mention, the Input series is set to Close by default. However the Donchian channel is calculated using the High and Low regardless of the Input series setting.

Perhaps you can use the SMA for this purpose. If you set Period to 1, it will plot a line for all Close prices of each price bar. The line can be shifted into the future using the Displacement setting. For example, if you enter a value of 5, the SMA line is shifted 5 price bars to the right.

Hello Jason,
Can I use the displacement feature also in Strategy Builder? I can't find it. Or is it offset?

Thank you

Petr

[NinjaTrader_PatrickH]

Hello Domek_69,

Thank you for your post.

The Displacement option is purely visual. If you wish to check two points on two plots or the same plot against one another you would use the barsAgo index of the selected Series.

For example, let's say I displace my SMA with 5 and want to know if the current price is above or below that value. I would use SMA(period)[5] and Close[0] for the comparison, so a 'Bars ago' of 5 for the SMA and a 'Bars ago' of 0 for the Close in the Strategy Builder.

Please let me know if you have any questions.

[Domek_69]

Thank you, it is clear now. I was probably too tired when I look at the description for the first time .

Petr