It’s called the Doda Donchian strategy for scalping and day trading low spread currency pairs on the lower timeframes i.e. 1-Minute, 5-Minute and Minute. Doda Donchian Metatrader 4 Indicator. A modificated version of the well known turtle indicator with very simple rules to buy and sell currencies. Works with all. In this lesson, we’ll learn how to use Doda Donchian indicator effectively in Forex trading to make money. Doda Donchian is a technical.
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You liked the script? Try donchoan in the MetaTrader 5 terminal. This is the modified version of Donchian channel indicator, popularly known as famous turtle indicator.
Doda Donchian Forex Scalping Trading Strategy
I’ve modified it after removing 2 lines. The result is a single line, making a coda but one of the powerful indicator. Stop-Orders are used to enter a position. Pending orders and postions are handled based on a daily system. Risk and money management are included as well as time and dayfilters.
The entry logik STP-value calculation can be easily changed. Gopal Krishan Doda This is the modified version of Donchian channel indicator, popularly known as famous turtle indicator. When price closes above Doda-Donchian line Sell: When price closes below Doda-Donchian line Stop-loss: Few pips away from Doda-Donchian line.
Works with any currency pair, CFD etc. Use higher time frame like H4.
It works best there. It happens many times that price kisses Doda-Donchian line, so it may triggers your stop-loss. Even if price moves above or below, that does not make any sense for change of signals.