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Daily Channel Pro mt4

Use this indicator to help determine when to open buys or sells based on the slope and direction of the channel.

Excellent for scalping.

Settings:

TrendPeriod.

Deviation.

ChannelPeriod.

Features Alerts.

How to use:

Simply attach to any chart.

To use on lower timeframes (M1,M5,M30), you'll need to start setting the Deviation from 0.01 and increase it if needed.

If used on lower timeframes  (M1,M5,M30,H1), confirm on higher timeframes (H4,D,W) before entering trades.

H1: Set Deviation to 0.5.

H4: Set Deviation to 1.0.

Daily: Set Deviation to 3.0.

Weekly: Set Deviation to 5.0.

Monthly: Set Deviation to 12.

Zoom chart in to get a better view of the channel and lines.

Buy: 

Channel slope is upward and blue trend line.

Best results when channel sloping is upward on multiple timeframes.

Sell:

Channel slope is downward and red trend line.

Best results when channel sloping is downward on multiple timeframes.


Or backtest and use as you see fit for your strategy.

Best results on Major Pairs, but can also be used on other pairs.


Important to note:

  • Please do not use this indicator haphazardly. Make sure it compliments your strategy.

  • Don't risk money you cannot afford to lose.

  • You use this indicator at your own risk. Please apply money management wisely.

  • Always test your strategy on a demo account before using a new indicator on a live account.


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Indicadores
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Indicadores
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Indicadores
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Indicadores
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Indicadores
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Indicadores
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Indicadores
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Indicadores
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Indicadores
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Versión 1.3 2023.03.09
Default setting update.
Buffer update.
ChannelPeriod added.
Versión 1.2 2023.03.03
Input signal update.
Versión 1.1 2023.03.02
Buffer update.
Default settings update.