Donchian Channel Distance Signals and Alerts
Summary
The document describes a higher-timeframe signal display for the AFL_WinnerSign indicator. It shows whether the selected bar continues the current trend or marks a change in direction: continuation uses a horizontal arrow, while a changed trend uses a diagonal arrow. Color and direction indicate the trend or trade direction.
The indicator lets users choose the underlying calculation timeframe and smoothing inputs, the bar to inspect, display settings, and alert behavior. It can show alerts and play audio. The explanation covers how to configure and display signals, but does not explain how AFL_WinnerSign derives its trend signals or provide performance evidence. It is a visualization and notification tool, so the document alone does not establish whether the signals are profitable or suitable for any trading approach.
Key ideas
- The display represents AFL_WinnerSign output for a selected bar and timeframe.
- A horizontal arrow marks trend continuation, while a diagonal arrow marks a change in direction.
- Arrow color and direction communicate the indicated trend or trade direction.
- The indicator supports visual customization and alert or audio settings.
- The document does not describe the underlying signal formula or report trading results.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.