Doda Donchian for MT4 is a modified version of the well known turtle indicator with very simple rules to buy and sell currencies.
Works with all currency pairs and time frames.
The indicator contains an automated suggested stop-loss for long and short trades.
BUY: Price breaks and closes above the red line.
SELL: Price breaks and closes below the red line.
TRAIL: Trail stop-loss a few pips above/below the red line.
EUR/USD Daily Chart Example
How to install the Doda Donchian custom indicator in Metatrader 4?
- Download the Doda Donchian.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.