Features of Donchian Scanner:-
Automated entry & exit signals – detects trading opportunities and provides you with take profit & stop loss
Trend Scanner – a multi-symbol and multi-timeframe scanner shows the direction of the trend, success rate, and rating
Statistical Dashboard Panel – shows the success rate, entry signal, and total profit/loss of each currency pair so you know exactly the result
Alerts, Email, and Push notifications – receive notifications when a new buy or sell signal is identified.
Customizable, non-repainting, no backpaints – you can customize the look and feel of the scanner to increase real estate. The indicator never repaints or backpaints.
1. Trade Analysis
Enter a trade if success rate is 70% or greater and the profit shows positive
2. Take Profit
Option 1 – Take profit on TP1
Option 2 – Partial Take Profit on TP1 and close remaining positions on TP2 and/or TP3
Option 3 – Take Profit on opposite signal and ride the trend
3. Stop Loss
Option 1 – set your fixed stop loss level based on provided SL value
Option 2 – exit your buy position on a new sell signal and exit your sell position on a new buy signal
Multi-Timeframe Analysis to get the best results and generate higher probability of success, you can trade when the higher timeframe and the lower timeframe are in the same trend direction.