It’s called the Doda Donchian strategy for scalping and day trading low spread currency pairs on the lower timeframes i.e. 1-Minute, 5-Minute and Minute. Doda Donchian Metatrader 4 Indicator. A modificated version of the well known turtle indicator with very simple rules to buy and sell currencies. Works with all. In this lesson, we’ll learn how to use Doda Donchian indicator effectively in Forex trading to make money. Doda Donchian is a technical.
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I got several emails and positive comments on Doda-Donchian indicator posted few weeks back.
All these 3 indicators for Domchian can be downloaded from indicators section of this website. Then, around 2-Mar, the price closes below Doda-Donchian line; thus giving sell signal. But the price again started moving upward after couple of candles.
That was the false signal. So, we need to filter out such false signals from out trading desk.
The solution is in Doda-Bollinger bands. If you look at the chart, Doda-Bollinger band was intact during that false signal and did not change its signal. Even if you look at BBSqueeze dark indicator, it also continued in buy zone i.
So, one can easily spot out such false signals, when powerful indicators have different views. After all, opportunities are always there in this market.
Doda Donchian Forex Scalping Trading Strategy
Candles changes color because of another indicator viz. ADX dodq, which can be downloaded from https: I need an alert when prices touches or orosses the donchian line.
Right now it only alerts when price touches or passes the BB bands. These are 2 different indicators. Each one gives alert on crossing their respective lines.
You may need to implement both the indicators. Your email address will not be published.
How to use Doda Donchian indicator in Forex Trading? |
Notify me of follow-up comments by email. Notify me of new posts by email. Skip to content I got several emails and positive comments on Doda-Donchian indicator posted few weeks back. How to filter false signals of Doda-Donchian indicator? Leave a Comment Cancel Reply Your email address will not be published.