The channel Forex indicator is designed with extreme price values for a specific period in mind.
The indicator comprises of three distinctly colored lines that resembles those of the Bollinger Bands.
Basic Trading Signals
Buy Signal: Go long when price opens and closes above the middle medium line of the indicator, and trades along the upper channel border.
Sell Signal: Go short when price opens and closes below the middle medium blue line of the indicator, and trades along lower channel border.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price closes below the medium central line of the indicator.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, price closes above the medium central line of the indicator.
Tips:
A good combination of the indicator with other technical analysis tools will bring out the best and yield a profitable trading strategy. Works for scalping, day trading and swing trading.
A good combination of the indicator with other technical analysis tools will bring out the best and yield a profitable trading strategy. Works for scalping, day trading and swing trading.
Basic Trading Signals
Buy Signal: Go long when price opens and closes above the middle medium line of the indicator, and trades along the upper channel border.
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Sell Signal: Go short when price opens and closes below the middle medium blue line of the indicator, and trades along lower channel border.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, price closes below the medium central line of the indicator.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, price closes above the medium central line of the indicator.
Tips:
A good combination of the indicator with other technical analysis tools will bring out the best and yield a profitable trading strategy. Works for scalping, day trading and swing trading.
A good combination of the indicator with other technical analysis tools will bring out the best and yield a profitable trading strategy. Works for scalping, day trading and swing trading.
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