Fortescue Metals

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Donchian Channels

Score

-0.05

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 23 18.4 0.30% 0.44% 11.6% -2.8% 36.6%
SHORT 22 15.7 0.27% 0.35% 6.1% -3.4% -21.4%

Summary

Technical Analysis


The Donchian channel is a useful indicator for seeing the volatility of a market price. If a price is stable the Donchian channel will be relatively narrow. If the price fluctuates a lot the Donchian channel will be wider. The two outer bands are plotted as the highest high and lowest low for a set period originally 20 days with the optional middle band calculated as the average of the two.

Calculation: Donchian Channels:
1) Upper Channel = 20 Day High;
2) Lower Channel = 20 Day Low;
3) Middle Channel = (20 Day High + 20 Day Low)/2;


PROFILE: Fortescue Metals (FMG.AX)


Stock Exchange: ASX
Company: Fortescue Metals
Ticker Codes: | FMG.AX | ASX:FMG |

About Fortescue Metals (ASX:FMG):

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It owns and operates the Chichester Hub that consists of the Cloudbreak and Christmas Creek mines located in the Chichester Ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley Ranges of Pilbara, Western Australia. The company was founded in 2003 and is based in East Perth, Australia.

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Donchian Channels

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ANG Austin Engineering 0.2 5.3 34,915 50 BULLISH
GSW Getswift 0.21 5.1 244,086 26.92 BULLISH
SXY Senex Energy 0.36 4.4 3,369,730 43.75 BULLISH
MRN Macquarie Radio Network 1.85 4.2 1,000 50 BULLISH
MVF Monash IVF 1.44 3.6 383,757 47.37 BULLISH
BWX BWX 2.12 3.4 172,630 31.4 BULLISH