Channel trading system - page 11
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Still no signal from Var Mov indicator ...
What I am doing now? Why i am posting all those charts and images if we did not have any signal to enter (no signal from Var Mov indicator)?
I simple wanted to say that this channel trading system is not signal system. We need to watch the channels all the times. Can you imagine I traded 15 charts simultaniously? Sometimes I did not have time to switch from chart to the other chart ...
Because to use this system we need to monitor the price movement. It is not signal system.
We had one.
It is USDCAD breakout:
I attached this indicator https://www.mql5.com/en/forum/177102 to the chart with the settings:
DisplayLine=true.
DisplayText=true.
Currency Filter: all false except USD=true an JPY=true (because I attached this indicator to USDJPY chart).
Rating Filter:
MaxRating=3
MinRating=3.
Don't forget to "allow DLL import" in Metatrader nd in indicator's settings.
Everything is going slowly on USDJPY.
No breakout yet:
By the way I traded signals from Var Mov indicator only.
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Why we need this PriceTrend indicator?
This PrceTrend indicator helps us to understand about the price. We know already that it is imposible to trade this system if we do not understand the price movement. So this indicator is helping a lot (it is EURJPY):
So, in case of our USDJPY we should look at 2 or 3 places on the chart just to understand about what price is doing and what price is ready to do in the near future:
But as I said above I am not trading the cases without the signals from Var Mov indicator.
And sometimes those signals from Var Mov indicator are coming too late (too late to open the order).
That's all for today.
Hi ,New Digital
Great explanation and very good work on the 5 min channel trading, it cleared up all my question, once again thank you for your time.
Thx
Look at this image:
Blue line is crossing the yellow line: trend started.
It is uptrend in our case.
Blue line is crossing red line to go back - correction or exit. Exit from buy in our case.
Please note: this PriceTrend indicator is having MTF settings so this indicator is re-painted. Do not trade using this indicator and do not make final decision according to this indicator's lines. Use this indicator just as informational only.
This channel https://www.mql5.com/en/forum/172920
I am testingit for M5 timeframe for 15 different pairs simultaniously.
I am testing just to estimate the trading technique rules: trading technique using channels (support/resistance etc0 are very difficult so i am trying to prictice with it. I will post everything of course later. Just need to be more comfortable with it.
We are having channel trading system for H1, H4 and D1 timeframe. So it will be system for M5 timeframe.
Results for today:
GBPJPY: +69 pips.
EURCHF: -15.
GBPCHF: +20.
EURGBP: +10.
USDCAD: -20.
USDJPY: +17.
It is very difficult to trade many pairs simultaniously and i am doing it just to test the trading technique with this channel (not for profit).Signals (validated signals to enter) are coming not often so that is why I traded 15 pairs siultaniously just to have few trades per day.
If we look at this image so we can see that it was breakout yesterday in the morning the channel changed the direction. People who traded GBPJPY yesterday can get good profit.
It is M5 timeframe but from the images we can understand: this system is not trading often. It is better to trade many pairs on demo forist just to be more comfortable with channel trading, support/resistance, breakout and so on. As to the rules so look at MaksiGen trading system and in the beginning of this thread: the rules are very similar.
And I want to remind: much more easy to trade inside the channel. And it is difficult to trade on breakout of the channel. We are having many breakout systems (manual trading systems) and the members may think that it is very easy. Not at all. It is much more difficult than to trade the trend in inside the channel.