Donchian Channel
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The Donchian Channel is a technical analysis indicator used in finance to identify potential price breakouts and trend reversals.The primary purpose of the Donchian Channel is to highlight the highest high and lowest low prices over a specified period, providing a visual representation of the current price's volatility and trend direction.
Key components and concepts associated with the Donchian Channel:
Upper Band (Resistance): This is formed by plotting the highest high price over a specified period. The upper band serves as a resistance level, indicating the upper limit of recent price movements.
Lower Band (Support): This is formed by plotting the lowest low price over the same specified period. The lower band acts as a support level, representing the lower limit of recent price movements.
Middle Line (Centerline): The centerline is the median line between the upper and lower bands. It is typically not used as a trading signal but can be useful for gauging the overall trend direction.
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