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Donchian Bands Metatrader 4 Indicator

    Donchian Bands calculate support and resistance levels based on high/low price of x periods.

    They are a great tool for trading breakouts in the forex market.

    Donchian Bands use a very simple formula to draw the upper and lower band.

    Upper Donchian Band: High price of x periods.
    Lower Donchian Band: Low price of x periods.

    Trading Rules

    BUY: Price breaks and closes above the 20-period upper Donchian Band.
    SELL: Price breaks and closes below the 20-period lower Donchian Band.

    See illustration below for clarification of the entry rules.


    Download the Donchian Bands.mq4 indicator.

    EUR/USD 1 Hour Chart Example


    How to install the Donchian Bands custom indicator in Metatrader 4?

    • Download the Donchian Bands.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.