{"id":498,"date":"2023-09-09T09:48:00","date_gmt":"2023-09-09T16:48:00","guid":{"rendered":"https:\/\/scalptrader.com\/?page_id=498"},"modified":"2023-09-17T15:39:33","modified_gmt":"2023-09-17T22:39:33","slug":"bars-above-below-donchian","status":"publish","type":"page","link":"https:\/\/scalptrader.com\/tradingviewindicators\/bars-above-below-donchian\/","title":{"rendered":"Bars Above\/Below Donchian"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lmc9p2is-32d8059e2481a387c5986e41402c8511\">\n#top .av_textblock_section.av-lmc9p2is-32d8059e2481a387c5986e41402c8511 .avia_textblock{\nfont-size:17px;\n}\n<\/style>\n<section  class='av_textblock_section av-lmc9p2is-32d8059e2481a387c5986e41402c8511'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p>ScalpTrader Bars Above\/Below Donchian Channel indicator provides a visualization of the Donchian Channel and measures the number of bars above and below the middle line of the channel.<\/p>\n<p>The Donchian Channel is a trading indicator that outlines the highest high and the lowest low over a defined number of periods, in this case set by the variable &#8220;length&#8221;. This indicator script specifically also calculates the &#8216;basis&#8217;, which is the average of the upper and lower channels of the Donchian Channel.<\/p>\n<p>When the closing price of a bar is above the &#8216;basis&#8217;, the script increases a counter for &#8220;aboveCount&#8221; and adds a label on the chart to show how many bars have closed above the &#8216;basis&#8217;. This label is green and it&#8217;s always placed at the high price of the bar. Conversely, when the closing price is below the &#8216;basis&#8217;, it increases a counter for &#8220;belowCount&#8221; and adds a red label on the chart to show how many bars have closed below the &#8216;basis&#8217;. This label is placed at the lower_channel level.<\/p>\n<p>This script can be useful for traders who use the Donchian Channel as a part of their trading strategy. The number of bars closing above or below the &#8216;basis&#8217; can provide insights into the ongoing trend. A higher count of bars closing above the &#8216;basis&#8217; can be interpreted as a bullish signal, suggesting an upward trend. Similarly, a higher count of bars closing below the &#8216;basis&#8217; can be interpreted as a bearish signal, suggesting a downward trend<\/p>\n<\/div><\/section>\n<div  class='avia-button-wrap av-lmmny75k-5a76ad0284252076f0aff6cd837c86b5-wrap avia-button-center  avia-builder-el-1  el_after_av_textblock  el_before_av_hr '>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lmmny75k-5a76ad0284252076f0aff6cd837c86b5\">\n#top #wrap_all .avia-button.av-lmmny75k-5a76ad0284252076f0aff6cd837c86b5{\nfont-size:16px;\n-webkit-transition:all 0.4s ease-in-out;\n-moz-transition:all 0.4s ease-in-out;\n-ms-transition:all 0.4s ease-in-out;\n-o-transition:all 0.4s ease-in-out;\ntransition:all 0.4s ease-in-out;\n}\n<\/style>\n<a href='https:\/\/www.tradingview.com\/script\/vvHzjlgJ-Bars-Above-Below-Donchian-Channel-ScalpTradr\/' class='avia-button av-lmmny75k-5a76ad0284252076f0aff6cd837c86b5 avia-icon_select-yes-left-icon avia-size-large avia-position-center avia-color-blue' target=\"_blank\" rel=\"noopener noreferrer\"><span class='avia_button_icon avia_button_icon_left' aria-hidden='true' data-av_icon='\ue812' data-av_iconfont='entypo-fontello'><\/span><span class='avia_iconbox_title' >Get Indicator<\/span><\/a><\/div>\n<div  class='hr av-av_hr-91d7ccd583a503147498e120fee2ff9b hr-default  avia-builder-el-2  el_after_av_button  el_before_av_image '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lmc9nge5-36c4f005ca06ccbb03b6e4a0a2365ebd\">\n.avia-image-container.av-lmc9nge5-36c4f005ca06ccbb03b6e4a0a2365ebd img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-lmc9nge5-36c4f005ca06ccbb03b6e4a0a2365ebd .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-lmc9nge5-36c4f005ca06ccbb03b6e4a0a2365ebd av-styling- avia-align-center  avia-builder-el-3  el_after_av_hr  avia-builder-el-last '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-299 avia-img-lazy-loading-not-299 avia_image ' src=\"https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM-1030x544.png\" alt='' title='ScalpTrader Bars Above\/Below Donchian Channel'  height=\"544\" width=\"1030\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM-1030x544.png 1030w, https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM-300x158.png 300w, https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM-768x405.png 768w, https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM-710x375.png 710w, https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM-705x372.png 705w, https:\/\/scalptrader.com\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-06-at-6.37.44-PM.png 1468w\" sizes=\"(max-width: 1030px) 100vw, 1030px\" \/><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":370,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/pages\/498"}],"collection":[{"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/comments?post=498"}],"version-history":[{"count":6,"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/pages\/498\/revisions"}],"predecessor-version":[{"id":521,"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/pages\/498\/revisions\/521"}],"up":[{"embeddable":true,"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/pages\/370"}],"wp:attachment":[{"href":"https:\/\/scalptrader.com\/wp-json\/wp\/v2\/media?parent=498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}