There is some old classic method about how to use the channel indicator https: There has been an incredible interest in channel trading especially in the Forex Factory forum by Orange Roshan. A full formation candle is when the LOW of.
Anyway, same with the box. We could have many entry styles. The one that I will. Trade the direction of the breakout as soon as it penetrate the box.
Trade the direction of the breakout at the opening of a new candle after the box is. The BLUE arrow below. Wait until a full formation 15mins candle finish forming. The pinkish Red arrow below. For programmers, I will help you a bit here.
A full formation candle is when the LOW of. Then enter at the opening of the next candle, following the direction of the breakout. Anyway, here is an. The Take Profit is up to you. However from experience 20pips is easy, 40pips is sweet. A good exit strategy would also be at This may be due to the strong move from the Frankfurt open, which is one hour before.
Share your opinion, can help everyone to understand the forex strategy. In this episode, I will try to make it as simple as possible, however I must warned JajaBinks and Grandmas that this method is a little more complicated than the method deployed in Episode One.
This system is not as powerful as The next Episodes but neithertheless, it can easily harvest 20pips or more. Therefore, diapers some pee in their pants and knee caps will not cause you to fall off your chair will not be necessary.
Basically, drawing a horizontal line from the highest and lowest of the eight hours candles. There has been an incredible interest in channel trading especially in the Forex Factory forum by Orange Roshan.
I find myself a bit confused. Can someone just post the "bread and butter" of channel trading? I mean what would be a simple and effective set up of indicators that a noob and start with and grow from. It should be indicator on this thread modified by Igorad or Beluck according to some request. It should be image attached as well.
There is some old classic method about how to use the channel indicator https: It is really very old method modified by many people. Last modification was made by Tartan the author of Goldwarrior EA: There are many EAs based on channel trading: Besides you may see the thread namely "level trading" take a search - do not remember location sorry.
Is this the same method as river trade. I posted there to do an EA. Is there EA of this method? Thank you for posting orange's trading system. Could you please attach your template tpl file so we can follow the trades on our own platforms? I myself coded an EA for this method based on the basic rules, it is profitable for but only about pips a year, which is way less than what a human trader can get from this method.
A key component to the success of this method is trend line which I still haven't found the best way to code it into the EA. But if you want to give it a try, please feel free to do so. We use to have Bollingerband on the chart as an exit signal, but my EA shows that some times it gives false signals to make exit early, so I personally choose to use Orange's trend line method to exit now.
I assume you were talking about the first two short entry. I have labeled the possible entry and exit places according to trend line filter. The first one you may at least break even or come out with a small profit.
The second one is a small loser. The third one should compensate whatever you lost the day. The fourth one happened last night, then use the trend line to check whether the run is over or not. It kept running, dropped twice in Asian session, once in Euro, another time in US. When the US drop happens if I am around I may exit because the day is over, but it doesn't hurt much if let it run till tomorrow, the key part to watch is approximately where the circle is, the price may meet the trend line and the envelope again.
If the price breaks the trend line, we get out.
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