108# Donchian Channel Double Breakout Trading System

Double Donchian Channel Strategy

 

Submit by Kerry 11/09/2013

 

This Trading System is inspired a Richiard J. Dennis the first at to use an similar trading system This is an Breakout Trend Following System.

 

Forenx indicator:

Donchian Channel 20 period red;

Donchian Channel 55 perid green.

 

Rules for: Donchian Channel Double Breakout Trading System

 

Long Entry

When the price breaks upward the red line of the Donchian Channel 20 period.

If there is a second breakout of the red line of the Donchian channel 20 does not enter, but get into position only if there is a breakout of the upper band of the Donchian channel 55 periods.

 

Short Entry

When the price breaks downward the red line of the Donchian Channel 20 period.

If there is a second breakout of the red line of the Donchian channel 20 does not enter, but get into position only if there is a breakout of the lower band of the Donchian channel 55 periods.

 

Exit position with Trailing Stop that depends by time frame and currency pair.

Place initial stopo loss 2 pips below or above the first green line.

Example EUR/USD H1

Trailing Stop 35 pips, place stop loss 2 pips below or above the first green line or fix stop loss at the 40 pips.

 

Exit position also with Profit Target:

Example EUR/USD 60 min 30 pips, GBP USD 35pips , AUD/USD 30pips, USD/CHF 26pips or ratio 1.3 initial stop loss.

After 20 pips in gain move stop loss (40 pips) at the entry point.

Donchian Channel Double Breakout Trading System: Template and Indicators.

Donchian Channel Double Breakout  Trading System
Donchian Channel Double Breakout Trading System
Donchian Channel Double Breakout  Trading System
Donchian Channel Double Breakout Trading System
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Donchian Channel Double Breakout Trading System
Donchian Channel Double Breakout Trading System.
Double Donchian Channel Strategy.
Indicators, and Template.
Double Donchian Channel Trading System.r
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Donchian Channel Forex Strategies