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Donchian channels, brought to us by Richard Donchian (1905-1993), is a great trading indicator to highlight trends, ranges, and new X number of day breakouts.You can design many trading strategies around the Donchian channel and it was the primary indicator for the Turtle Traders.The channel works by highlighting the highest high or lowest low of the prior 20 days.  Note that the number of days for the channel settings can be changed.Reading the channel is straightforward:

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