Dual Donchian Channels- Lockwood

Description

This indicator plots two Donchian Channels on the same chart, each using a different user-defined lookback period. A Donchian Channel shows the highest high and lowest low over a selected number of bars, helping identify breakouts, volatility, and trend conditions.

Features

Two independent Donchian Channels

Customizable lookback periods and colors

Upper, middle, and lower lines for each channel

Channels automatically adjust and stay anchored to price levels when the chart is scaled or moved

Useful for identifying volatility contractions, trend breakouts, and support/resistance zones