You can use Doda-Donchian indicator not only in Forex market but also in stock market. I'm giving you an example chart of Pfizer Inc. listed in NYSE.
The indicator gave Sell signal on 4th Nov. 2010 @17.33, when the price closes below the Doda-Donchian line and from there it moves downward daily. On last trading session, it closes on 16.47, resulting in about 5% profit in less than 1 month. The chart is still in its downtrend movement and will move further down.
The same indicator gave Buy signal in its last bull run (not shown in chart), but you can easily see that the price was trading above Doda-Donchian line in that period.
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