TakePropips Donchian Trend PRO
TakePropips Donchian Trend PRO is a powerful and effective tool that automatically detects the direction of the trend and provide you an entry and exit signals.
This multi-function indicator includes the Donchian Channel, entry & exit signals, statistical dashboard panel, and a trend-detection scanner. It is designed to provide you trading signals and save you hours analyzing the charts!
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.
How to setup a trade?
Make your trading much simpler with this easy simple steps!
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
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.
Recommended Multi-Timeframe Pairs:
- M5 -> M15
- M15 -> H1
- H1 -> H4
- H4 -> D1
- D1 -> W1
The indicator works on all timeframes, forex pairs, indices and commodities.