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The Donchian Trend Pro indicator is a paid channel indicator for binary options and the Forex market , which is based on the popular Donchian channel indicator, but the TakeProPips Donchian Trend Pro indicator has improved new functionality, thanks to which it is possible to enter a trade much more accurately using signals, markings price targets and dashboards.

Also, the indicator for binary options Donchian Trend Pro is sold on the author’s website for $49, but you can download it for free from our website for review.

Donchian Trend Pro indicator

Characteristics of the indicator for binary options Donchian Trend Pro

Installing the Donchian Trend Pro binary options indicator in MT4

The indicator is installed as standard in the MetaTrader 4 terminal.

MetaTrader 4 instructions for installing indicators:

Review and settings of the Donchian Trend Pro indicator for binary options

The TakeProPips Donchian Trend Pro indicator includes not only channels, as mentioned earlier, but also information panels that can be usefully used in binary options trading. As a result, this indicator consists of:

  1. Donchian Channel with price target marks, if you trade in the Forex market;
  2. Signals for binary options and points showing which candle the signal was on;
  3. Two information panels with the history of signals and identification of current trends for all trading assets from the terminal.

TakeProPips Donchian Trend Pro workspace

The Donchian Channel, on which the Donchian Trend Pro indicator is based, works on the principle of determining volatility based on the highest and lowest recent prices. To put it simply, the channel is built according to price extremes, which are constantly changing. The construction algorithm, although not completely, is similar to such indicators as Bollinger Bands and Keltner Channels . The key difference is that the price never goes beyond the Donchian channel.

Also, in the Donchian Trend Pro indicator for binary options, Donchian channels are divided by color, which allows you to see in which direction the market is currently directed. Accordingly, when the channel color is green, the market is growing, and when it is orange, the market is falling:

Donchian channel

It is important to understand that these readings are averages and do not follow the market exactly. This means that the channel does not respond to small fluctuations and market noise.

Signals from the TakeProPips Donchian Trend Pro indicator are depicted as several arrows and circles. A signal appears when the color of the channel changes, and at this moment a signal is generated to buy Call or Put options in the form of arrows and circles. Please note that the yellow arrow simply points to the candle, which is a signal (in other words, the yellow arrow duplicates the main signal and is no different):

TakeProPips Donchian Trend Pro signals

The numbers on the chart indicate the take profit and table loss levels for those traders who trade in the Forex market. Where goals have been achieved, there is a “tick” mark. Cresti says that the goal was not achieved and a stop loss was received:

Take profit and stop loss on Forex

In addition to the indicator itself, there are panels on the chart. The panel on the left shows take profits, stop losses, as well as important information for binary options in the form of the number and ratio of profitable and losing trades, as well as the current signal:

Donchian Trend Pro statistics panel

The second panel shows the trading assets of the MT4 terminal, timeframes selected in the settings, trend strength and recommendations for actions in the form of buying or selling. The panel is clickable and you can switch between assets and timeframes. Also, if necessary, you can collapse it by clicking on the icon in the upper right corner, or move it to any part of the chart:

trend panel

It can also be useful for traders because it allows you to see trends on each timeframe, and where the indications converge, the likelihood of making a profit when trading binary options is greater. Therefore, if you, for example, trade on M15, then the more higher timeframes converge in a trend with M15, the higher the probability of a successful transaction if there is a signal:

strong trend in TakeProPips Donchian Trend Pro

The Donchian Trend Pro indicator has quite a lot of settings, although a considerable part of them are responsible for visual and color indicators:

TakeProPips Donchian Trend Pro settings Donchian Trend Pro settings

 

From the main parameters you can configure:

  • Donchian Channel Period . The default channel is “20” and is the optimal parameter for all timeframes ;
  • Number of bars on history ( No. Of Bars To Calculate). The variable is necessary to display the indicator readings on history;
  • Take -Profit & Stop Loss settings . Allows you to configure multipliers for setting take profit and stop loss levels, or disable them altogether;
  • Trading assets (Comma Seperated Symbols). Here you can list, separated by commas, the required trading assets that will be used in the trend panel;
  • Timeframes (Comma Seperated Timeframes). In this variable, you can list the required timeframes separated by commas;
  • Wide trend panel (Use Two Containers Dashboard). If desired, you can expand this panel, but this is only suitable for wide monitors;
  • Middle line (Show Donchian Middle Line). Show/Do not show channel center line;
  • Signals (Show Signals On Chart). Show/Do not show signals;
  • Trend panel ( Show Scanner). Show/Not trend bar;
  • Statistics panel ( Show Dashboard Panel). Show/Do not show statistics panel;

Also, as mentioned above, you can customize the colors and location of many of the indicator’s components, and at the very end, configure alerts.

Trading rules using the Donchian Trend Pro indicator for binary options

Based on the material presented above, it is not difficult to guess that trading using the TakeProPips Donchian Trend Pro indicator is carried out using signals, taking into account the trend. Therefore, it is definitely worth understanding how trends work and what they are:

The rules themselves are as simple as possible and require the appearance of signals, and to buy Call options you need a green arrow and a green circle to appear, and also the channel lines to turn green. To buy Put options, you need an orange arrow and an orange circle to appear, and also the channel lines to become orange. Expirations are best used in the amount of 6 candles:

trading using the Donchian channel indicator

Also, the appearance of signals is accompanied by alerts:

Alerts TakeProPips Donchian Trend Pro

Signals and trading using the Donchian Trend Pro indicator

All we need is to watch the signals and the trend panel, and if the selected trading asset is now in an uptrend, then we only wait for signals to buy a Call option, after which we buy an option with an expiration of 6 candles:

call option TakeProPips Donchian Trend Pro

Trading is carried out in the same way for a downtrend and Put options:

put option TakeProPips Donchian Trend Pro

Conclusion

The Donchian Trend Pro indicator is a good trend-signal indicator for binary options, which can bring profit if used correctly. To do this, you just need to study how a trend works and be sure to rely on the trend indicator panel. It is also necessary to test the indicator and understanding of its operation on a demo account before trading on a real account.

Don’t forget about the rules of money management and risk management , which allow you to maintain the deposit at the required monetary level even with unprofitable transactions. Trading itself should only be done through a trusted broker, which can be found in our rating of binary options brokers .

Download the Donchian Trend Pro indicator for free

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Can't figure out how this strategy or indicator works? Write about it in the comments to this article, and also subscribe to our YouTube channel WinOptionSignals , where we will definitely answer all your questions in the video.

Binarium

See also:

How to make money on binary options

How to choose a binary options broker?

The Binary Options Grail

Binary options trading platforms

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Руслан
Руслан
Когда много вот таких панелей, меня это всегда напрягало.
Трейдер БО, согласен с вами полностью, первая панель нельзя убрать в настройках, но хотя бы вторую то хоть можно свернуть чтобы не мешала. Я не представляю как люди торгуют с ним на мобильном.
24 November 2023
Answer
Артур
Артур
Опять эти полотнища на пол экрана...
05 September 2023
Answer
Трейдер БО
Трейдер БО
Когда много вот таких панелей, меня это всегда напрягало.
17 August 2023
Answer
Михаил
Пишет Please add the symbol AUDUSD in the Market window and reload the scanner to property calculate its values. И так со всеми символами, которые указаны по умолчанию в настройках, как решить эту проблему Хотя в обзоре рынка у меня есть эти символы
может у тебя у брокера к символам есть приписка какая-то типа pro, f, mini, micro или что такое? к примеру EURUSD.pro если да, то в настройках просто добавить чего не хватает.
Серж, возможно надо дописать букву обычно не заглавная если она есть в символе, буква в конце символа ,
23 March 2022
Answer
Михаил
Сколько времени нужно чтобы установить индикатор Donchiand Trend Pro Indicator в Metatrader 4?
Корней, 5 минут
22 March 2022
Answer
Михаил
При загрузке шаблона отображается сразу две панели вторых панели с торговыми активами одна явно не правильно отображает сигналы вторая с правильными сигналами пропадает при переключение таймфрейма ничего не пойму я что то установил неправильно или в настройках надо что то изменить
22 March 2022
Answer
Серж
Пишет Please add the symbol AUDUSD in the Market window and reload the scanner to property calculate its values. И так со всеми символами, которые указаны по умолчанию в настройках, как решить эту проблему Хотя в обзоре рынка у меня есть эти символы
может у тебя у брокера к символам есть приписка какая-то типа pro, f, mini, micro или что такое? к примеру EURUSD.pro если да, то в настройках просто добавить чего не хватает.
27 August 2021
Answer
Андроей
Пишет Please add the symbol AUDUSD in the Market window and reload the scanner to property calculate its values. И так со всеми символами, которые указаны по умолчанию в настройках, как решить эту проблему Хотя в обзоре рынка у меня есть эти символы
26 August 2021
Answer
Корней
Сколько времени нужно чтобы установить индикатор Donchiand Trend Pro Indicator в Metatrader 4?
25 June 2021
Answer
Stas
Stas
Насколько я понял индикатор Donchian Trend Pro сигнально трендовый, а в тексте все расписано о бинарных опционах. А насколько индикатор эффективен для торговли на Форекс?
Григорий, Думаю, что этот индикатор подойдет и для Форекс, но благодаря информационной панели, теперь есть возможность точнее войти в сделку, а значит и шансы на успех увеличиваются.
25 June 2021
Answer
Григорий
Григорий
Насколько я понял индикатор Donchian Trend Pro сигнально трендовый, а в тексте все расписано о бинарных опционах. А насколько индикатор эффективен для торговли на Форекс?
25 June 2021
Answer
Олег Белан
Олег Белан
О, новая статтейка появилась... а насколько индикатор Donchian Trend Pro подходит для начинающего трейдера?. Судя по названию, этим индикатором можно торговать по тренду.
Леша, Думаю, что индикатор Donchian Trend Pro вполне подойдет и новичкам в торговле бинарными опционами, хоть и нужно потратить немного больше времени,чтобы разобраться в настройках и дополнительных возможностях.
25 June 2021
Answer
Леша
Леша
О, новая статтейка появилась... а насколько индикатор Donchian Trend Pro подходит для начинающего трейдера?. Судя по названию, этим индикатором можно торговать по тренду.
25 June 2021
Answer
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