Modified Donchian Channels

ModifiedDonchianChannels.efs                                                                                 EFSLibrary - Discussion Board

File Name: ModifiedDonchianChannels.efs

Description:
Modified Donchian Channels

 

Formula Parameters:
Length : 24
Extremes : 3
Margins : 0

 

Notes:

Download File:
ModifiedDonchianChannels.efs




EFS Code:

/*********************************
Provided By:                                                      
    Copyright 2021 Intercontinental Exchange, Inc. All Rights Reserved.
    eSignal is a service mark and/or a registered service mark of
    Intercontinental Exchange, Inc. in the United States and/or other countries.
    This sample eSignal Formula Script (EFS) is for educational purposes only.
    Intercontinental Exchange, Inc. reserves the right to modify and
    overwrite this EFS file with each new release.

Description:        
    Modified Donchian Channels
    
Version:            1.0  10/29/2009
 
Formula Parameters:                     Default:
    Length                              24
    Extremes                            3
    Margins                             0
    
Notes:
    
**********************************/
var fpArray = new Array();
var bInit = false;

function preMain(){
    setPriceStudy(true);
    setShowCursorLabel(true);
    setShowTitleParameters(false);
    setStudyTitle("Modified Donchian Channels");
    setCursorLabelName("Up Band", 0);
    setPlotType(PLOTTYPE_LINE, 0);
    setDefaultBarFgColor(Color.RGB(0x00,0x94,0xFF), 0);
    setCursorLabelName("Dn Band", 1);    
    setPlotType(PLOTTYPE_LINE, 1);
    setDefaultBarFgColor(Color.RGB(0x00,0x94,0xFF), 1);
    var x = 0;
    fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(1);
        setDefault(24);
    }    
    fpArray[x] = new FunctionParameter("Margins", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(0);
        setDefault(0);
    }        
    fpArray[x] = new FunctionParameter("Extremes", FunctionParameter.NUMBER);
	with(fpArray[x++]){
        addOption(1); 
        addOption(2);
        addOption(3);
        setDefault(3); 
    }    
}

var xDonchUp = null;
var xDonchDn = null;
var xDonchOpenUp = null;
var xDonchOpenDn = null;

function main(Length, Extremes, Margins) {
var nBarState = getBarState();
var nDonchUp = 0;
var nDonchDn = 0;
var nDonchOpenUp = 0;
var nDonchOpenDn = 0;
var nSsMax = 0;
var nSsMin = 0;
var nmin = 0;
var nmax = 0;
    if (nBarState == BARSTATE_ALLBARS) {
        if(Length == null) Length = 24;
        if(Extremes == null) Extremes = 3;
        if(Margins == null) Margins = 0;
	}
	if (bInit == false) {
        xDonchUp = upperDonchian(Length, high());
        xDonchDn = lowerDonchian(Length, low());
        xDonchOpenUp = upperDonchian(Length, open());
        xDonchOpenDn = lowerDonchian(Length, open());
        bInit = true;
	}
    nDonchUp = xDonchUp.getValue(0);
    nDonchDn = xDonchDn.getValue(0)
    nDonchOpenUp = xDonchOpenUp.getValue(0);
    nDonchOpenDn = xDonchOpenDn.getValue(0);
    if (nDonchUp == null) return;
    if (Extremes ==1) {
        nSsMax = nDonchUp;
        nSsMin = nDonchDn;
    } else {
        if (Extremes == 3) {
            nSsMax = (nDonchOpenUp + nDonchUp) / 2;
            nSsMin = (nDonchOpenDn + nDonchDn) / 2;
        } else {
            nSsMax = nDonchOpenUp;
            nSsMin = nDonchOpenDn;
        }
    }    
    nmin = nSsMin + (nSsMax - nSsMin) * Margins / 100;
    nmax = nSsMax - (nSsMax - nSsMin) * Margins / 100;
    return new Array(nmax, nmin);
}