$ Pinescript Donchian Channels

//@version=5
indicator("My Donchian Channels", overlay=true) // overlay=true to plot directly on the price chart

// Input for Donchian Channel length
length = input.int(20, title="Channel Length", minval=1)

// Calculate Donchian Channels using the built-in function
// ta.donchian returns the Upper, Middle, and Lower bands
[upperBand, middleBand, lowerBand] = ta.donchian(length)

// Plot the Upper, Middle, and Lower Bands
plot(upperBand, title="Upper Band", color=color.blue, linewidth=1)
plot(middleBand, title="Middle Band", color=color.gray, linewidth=1)
plot(lowerBand, title="Lower Band", color=color.blue, linewidth=1)

// Fill the area between the upper and lower bands for visual appeal
fill(upperBand, lowerBand, color.new(color.blue, 90), title="Channel Background")

//@version=5
strategy("Donchian Channel Breakout Strategy", overlay=true)

// Input for Donchian Channel length
length = input.int(20, title="Channel Length", minval=1)

// Calculate Donchian Channels
[upperBand, middleBand, lowerBand] = ta.donchian(length)

plot(upperBand, "Upper Band", color.blue)
plot(middleBand, "Middle Band", color.gray)
plot(lowerBand, "Lower Band", color.blue)
fill(upperBand, lowerBand, color.new(color.blue, 90))

// Long entry condition: Price closes above the upper band
longCondition = close > upperBand[1] and close[1] <= upperBand[1] // Current close above, previous below or equal

// Short entry condition: Price closes below the lower band
shortCondition = close < lowerBand[1] and close[1] >= lowerBand[1] // Current close below, previous above or equal

if (longCondition)
    strategy.entry("Long Breakout", strategy.long)

if (shortCondition)
    strategy.entry("Short Breakout", strategy.short)

// Exit strategy: Close if price crosses the middle band in opposite direction or touches opposite channel.
strategy.exit("Long Exit", from_entry="Long Breakout", stop=lowerBand, limit=upperBand + (upperBand - middleBand)) // Example: Stop at lower band, target 2x range
strategy.exit("Short Exit", from_entry="Short Breakout", stop=upperBand, limit=lowerBand - (middleBand - lowerBand)) // Example: Stop at upper band, target 2x range

// Alternatively, exit on touch of opposite channel or middle band crossover for simpler exits:
// strategy.close("Long Breakout", when=close < middleBand)
// strategy.close("Short Breakout", when=close > middleBand)

//@version=5
strategy("Donchian Trend & Pullback Strategy", overlay=true)

length = input.int(20, title="Channel Length", minval=1)

[upperBand, middleBand, lowerBand] = ta.donchian(length)

plot(upperBand, "Upper Band", color.blue)
plot(middleBand, "Middle Band", color.gray)
plot(lowerBand, "Lower Band", color.blue)
fill(upperBand, lowerBand, color.new(color.blue, 90))

// Define trend direction using the middle band slope
isUptrend = middleBand > middleBand[1] and middleBand[1] > middleBand[2]
isDowntrend = middleBand < middleBand[1] and middleBand[1] < middleBand[2]

// Long entry: In uptrend, price pulls back to middle band and bounces
longPullbackCondition = isUptrend and close > middleBand and close[1] <= middleBand[1]

// Short entry: In downtrend, price rallies to middle band and reverses
shortPullbackCondition = isDowntrend and close < middleBand and close[1] >= middleBand[1]

if (longPullbackCondition)
    strategy.entry("Long Pullback", strategy.long)

if (shortPullbackCondition)
    strategy.entry("Short Pullback", strategy.short)

// Exit strategy for pullbacks (e.g., break of opposite channel or strong counter-move)
strategy.close("Long Pullback", when=close < middleBand)
strategy.close("Short Pullback", when=close > middleBand)

//@version=5
indicator("Donchian Volatility & Breakout", overlay=true)

length = input.int(20, title="Channel Length", minval=1)
consolidationRatio = input.float(0.05, title="Consolidation Ratio (e.g., 0.05)", minval=0.01, step=0.01)

[upperBand, middleBand, lowerBand] = ta.donchian(length)

plot(upperBand, "Upper Band", color.blue)
plot(middleBand, "Middle Band", color.gray)
plot(lowerBand, "Lower Band", color.blue)
fill(upperBand, lowerBand, color.new(color.blue, 90))

// Calculate channel width relative to price or middle band
channelWidth = upperBand - lowerBand
relativeWidth = channelWidth / middleBand * 100 // Percentage width relative to price level

// Detect consolidation: width is narrow (e.g., below 5% of middle band)
isConsolidating = relativeWidth < consolidationRatio * 100

// Detect breakout from consolidation:
// Price breaks out of channel AFTER a period of consolidation
// For a robust signal, consider requiring a certain number of consolidating bars
breakoutUp = close > upperBand[1] and close[1] <= upperBand[1] and isConsolidating[1]
breakoutDown = close < lowerBand[1] and close[1] >= lowerBand[1] and isConsolidating[1]

bgcolor(isConsolidating ? color.new(color.yellow, 90) : na, title="Consolidation Zone")
plotshape(breakoutUp, title="Bullish Breakout", location=location.belowbar, color=color.new(color.green, 0), style=shape.triangleup, size=size.small)
plotshape(breakoutDown, title="Bearish Breakout", location=location.abovebar, color=color.new(color.red, 0), style=shape.triangledown, size=size.small)

alertcondition(breakoutUp, "Donchian Bullish Breakout", "Price broke above Donchian Channels after consolidation.")
alertcondition(breakoutDown, "Donchian Bearish Breakout", "Price broke below Donchian Channels after consolidation.")