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Custom Donchian Channels

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Donchian Channels help identify ranges as they emerge on charts. Unlike Bollinger Bands , which use volatility , Donchian Channels simply track the highest high over the preceding N periods. (In green above.) The lowest low over the period is also plotted (in red), along with their midpoint.

Donchian Channels can highlight ranges occurring over various time periods, regardless of calendar week or month. This can help detect recent peaks or troughs. Traders can use Donchian Channels for both neutral range-trading or to capitalize on breakouts/breakdowns.

The FMC chart above shows the chemical stock making a peak of $99.05 on November 12, which is being challenged today. A decisive break of the high, especially with a close above it, would be a potentially bullish signal. However if it fails and reverses, that could suggest a neutral range-bound trend will follow.

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