Channel trading system - page 27
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I do not know which template file you found. may be my old template.
New template file with new indicators (improved by mladen) are on this post: https://www.mql5.com/en/forum/173261/page17
And it is with alert on very dot already:
Thanks I did download that one aswell but was using the other as i thought it was for a 5digit broker..Anyways I will try the newest one and see how I get on!
hello everybody.
I read the whole thread but having some question about entry and stop point .
I hope putting the more figure help me for more knowing .
Take a buy on loomi (usdcad), on the channel lower band , stop is at the lower of pink line , target is the blue line .RSI filter and TP both are bullish .
am I right?
There are 2 ways to trade this channel:
- trading between horizontal lines;
- trading on breakout of those lines using dots.
thank you .
you mean i put two stop orders : a buy stop above the blue line . and the sell one below the pink line . without consider the PT and RSI direction ?
and have a position on median line with taget for the other border line?
No.
2 stop orders is the 3rd way of using this system.
I prefer to trade on dots. Wih RSI and PT.
In this case I will have may be 1 - 5 trades in a week.
But you can trade in any other way.
Dear new digital ,
I am going to learn your system by your way . no the way i trade.
you are an experienced trader and build a system on logic.
I have these two position .if you want to trade what would be your position ?
USDCAD?
I do not see any signal for USDCAD:
For USDCAD: it is uptrend for H4 and choppy market condition for D1.
I will not trade USDCAD today even I will have good signal for that. Too risky.
You can see PT indicator for all the pairs: the price is moved in choppy way/ And there is no any signal.
Personally I do not like big risk in trading sorry.
Because what is PT indicator?
Just imagine that blue lie is the price, yellow lie is trend line and red line is stop or correctional line.
Same as with 3 MA indicators: price is crossing trend line for open the order and price is prossing correctionbal line for exit.
The only differences that we are not openning any order based on PT indicator.
In our case - it is informational indicator. because it is MTF indicator: the lines are drawing on M5 chart based on H1 timeframe. It means - re-drawing (continuing drawing). It means that we can use it for information only.
Ok. Look at the image above: uptrend was started today at night when I was sleeping, it was few false dots for uptrend early morning ... for now - uprend is finishing.
It will be the correction, it uptrend will continuing.
It is too late for me. And it was too risky anyway even I did not sleep at night - I did not open this order anyway.
Good signal if:
- price blue line is very near of trend yellow line if PT indicator;
- we see the dot of Kaufnam AMA indicator now or later;
- 2 dotted pending orders lines of MaksiGen indicator is very near from each other.
But it happened may be once in a week ...