Donchian breakout up event
Marks closes above the recent high, but its channel includes the current bar, so at default settings it never marks.
Donchian breakout up takes the highest high of the last window bars, counting the candle being tested, and marks each candle whose close is above that high times (1 + band). A close cannot be above its own candle's high, so at band 0 the test can never pass and the indicator marks nothing. A negative band lowers the level below the recent high, and then candles that close near the high are marked. It is a state test, not a one-bar cross, so a push that stays near the high marks candle after candle.
How to read it
- Markers sit on candles only. The indicator draws no line, so read them against the candles' highs.
- At default settings it marks nothing. That is a defect in the rule, not a quiet market (see pitfalls).
- With a negative band, a marker means the close is within that fraction of the recent high.
- Runs of markers mean one push kept closing near its high, not separate breakouts.
What it outputs
- Breakout up
- Marks each candle whose close is above the window high times (1 + band). Nothing is marked at band 0 or above.
When it fires
Fires on each candle whose close is above the window high times (1 + band), that candle included in the window. At band 0 it cannot fire. With a negative band it fires when the close sits within that fraction of the recent high: an up push near its high, not a confirmed breakout.
Settings
- window
- Bars the channel high looks back over, counting the current bar. A longer window raises the high, so the level sits further above price and fewer candles mark. A shorter window lowers it toward price. At band 0 the window changes nothing: no candle marks.
- band
- Offset on the channel high: the level is high times (1 + band). At 0 or above nothing marks. Below 0 the level drops under the high, so closes near the high mark: -0.001 is about 0.1 percent, roughly 0.77 dollars on SPY near 765. At -1 every candle marks.
Pitfalls
- On the September 2026 SPY sample it marked zero candles at defaults, so the indicator looks broken, not just rare.
- The trb breakout rule in the same file shifts its channel back one bar so a close can clear it. This rule does not, which is why it can never fire at band 0.
- With a negative band a single push marks many candles in a row, so count runs, not markers.