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Trend Following - Donchian Channels

Hallo there,

I am new to futures trading. Read Michal Covel's book. Fascinated by the fortunes of the Turtle Traders. Turtle traders based their succcess mainly on the use of Donchian (Price) Channels. My broker's trading system does not support Donchian Channels. What other indicators can I use that are similar to Donchian Channels? Please help!
Attie - South Africa

The system your referring to is simply an N-bar breakout of the highest high (or lowest low for a breakdown) over a specific time period.

So for example a 20 period Donchian channel, is a 20 period new high (or low) as the signal triggering a new trade entry. So you might look into any sort of basic price alert available where you can configure the lookback period. Then just make sure your alert lookback is set to whatever value Micheal Covel recommends in his book.

Visually you can do all this by hand easily enough with some basic trendlines on your chart. Identify the consolidation areas on your chart, plot your trendlines and wait for one of the trendlines to break as your signal.