How to Trade Using the Donchian (Breakout) Strategy

• Buy when the price breaks the N-period high (Upper).
• Sell when the price breaks the N-period low (Lower).
• Hold the position while the trend continues; exit on an opposite breakout or via a trailing stop.

What the Indicator Shows on the Chart

Donchian on the Current Timeframe (TF):

• Upper: The highest price over the Upper Channel bars.
• Lower: The lowest price over the Lower Channel bars.
• Mid: The midpoint between Upper and Lower.

HTF Overlay: Donchian lines from a higher timeframe overlaid on the chart:

• HTF Upper, HTF Lower, HTF Mid
• HTF Candles HUD: Rectangles representing higher timeframe candles, anchored to the right of the last bar on the current TF.

HUDs (Heads-Up Displays) at Bottom/Top:

• TopRight: Information panel for the symbol + daily/weekly/monthly ranges.
• BottomLeft: HTF HUD (metrics for the higher timeframe).
• BottomRight: Mid TF HUD (metrics for the intermediate timeframe).
• BottomMid: Session clocks + High/Low for each session (persistent).

What Each HUD Displays

TopRight (Top Right)

• SymbolName
• Spread: Spread in pips.
• Session: Current active session (based on specified hours).
• DRange/WRange/MRange: Daily/weekly/monthly range in pips.
• H/L/Vol: High/Low and total volume for the respective period.

BottomLeft (Bottom Left) — HTF HUD

• TF Name (e.g., H4, D1, etc.)
• H/L: Current high/low of the last (or active) HTF bar.
• ADX(n), DI+/DI-: Trend indicators.
• BB B%: Where the current price is relative to Bollinger Bands on HTF (0 near lower band, 100 near upper band).
• RSI(n)
• Vol: Volume on HTF.
• HUD Color:
• • Green: Range expanding upward (DI+ and ADX rising).
  • Red: Increasing downward pressure (DI- rising).
  • Yellow: Neutral/undefined.

BottomRight (Bottom Right) — Mid TF HUD

• Same as HTF HUD, but for the intermediate timeframe (Mid Timeframe).

BottomMid (Bottom Center) — Clocks + Session H/L

• Time in NY, LN, SY, TO.
• L/H for each session.
• Persistent Logic: When a session is inactive, shows H/L of the last completed session; when a new session starts, values reset and recalculate.

Parameters and How to Use Them

Group: Current TF (Current Donchian)

• Upper Channel: Number of bars for the upper channel. Larger value = less frequent updates, flatter line.
• Lower Channel: Number of bars for the lower channel.

Group: HTF Overlay (Higher Timeframe Donchian Overlay)

• Show HTF Overlay: Enables HTF lines on the chart.
• HTF Timeframe: Select higher timeframe (e.g., Hour4).
• Use Separate HTF Periods: If true, HTF Upper/Lower use their own parameters; if false, uses current Upper/Lower.
• HTF Upper Channel: Length of the upper channel for HTF.
• HTF Lower Channel: Length of the lower channel for HTF.

Group: HUD Style

• HUD Font Size: Font size for all HUDs (TopRight, BottomLeft, BottomRight, BottomMid).

Group: HTF HUD (Bottom Left)

• Show HTF Text HUD: Display text HUD for HTF.
• HTF ADX Period: ADX/DI period. Larger = smoother, less noise, but slower response.
• HTF RSI Period: RSI period.
• HTF BB Period: Bollinger Bands period.
• HTF BB StdDev: Standard deviation multiplier for BB (classic is 2.0).
• HTF Rise Threshold: Sensitivity to rising metrics (affects HUD color).

Group: HTF Candles (Right, Near Last Bar)

• Show HTF Candle(s) HUD: Display HTF candles on the right.
• HTF Candles Count (max 3): Number of HTF candles (1–3).
• Use Closed HTF Bar Only: If true, uses only closed HTF candles (stable values). If false, includes the current open candle.
• Candle Right Offset (bars): Offset to the right in bars of the current TF from the last bar (anchor).
• Candle Width (bars): Width of the candle rectangle in current TF bars.
• Candle Spacing (bars): Gap between candles.
• Candle Outline Thickness: Thickness of candle outlines.
• HTF Bull Color / HTF Bear Color: Colors for bullish/bearish candles.
• HTF Wick Color: Color for wicks.
• Use Outline Override: If true, candle body is drawn with an outline (Outline Color) without bull/bear fill.
• Outline Color: Color for outline when Use Outline Override = true.

Group: Mid TF HUD (Bottom Right)

• Show Mid TF HUD: Enables HUD for the intermediate TF.
• Mid Timeframe: Select intermediate TF (e.g., Minute15).
• Use Closed Mid TF Bar Only: Same as HTF, but for Mid TF.
• Mid HUD Rise Threshold: Color sensitivity for Mid TF HUD.
• BB Period (Mid TF), BB StdDev (Mid TF): Bollinger Bands settings for Mid TF.
• ADX Period (Mid TF), RSI Period (Mid TF): ADX and RSI periods for Mid TF.

Group: Clocks (Bottom Center)

• Show World Clocks: Display block with clocks and session H/L.
• Clocks Color: Text color for clocks/sessions.
• London Start / London End: Start/end hours for the London session.
• NewYork Start / NewYork End: For New York.
• Sydney Start / Sydney End: For Sydney.
• Tokyo Start / Tokyo End: For Tokyo.

Clocks: Show real local time for cities (via OS time zones with a fallback offset).

• Session activity (and H/L) calculations use broker server time (Server.Time). If the server is not in UTC, session hours may shift—adjust Start/End as needed for your server.
• If a session crosses midnight (End < Start), the indicator automatically accounts for the date transition.
• When a session is inactive, the H/L of the last completed session is shown; when a new session starts, data resets and recalculates.