Auto Trend Channel Forex Indicator For MT4

The auto trend channel Forex indicator draws a dynamic tradable buy/sell channel on the Metatrader 4 chart. You can make good profit with it.

The auto trend channel indicator identifies the most profitable trend and draws a channel around the high and low prices.

Identifying the trend with the auto channel Forex indicator:

  • The trend is upward when the trend channel is sloping up.
  • The trend is downward when the trend channel is sloping down.

Trading currency pairs with the trend channel indicator is a fairly easy task. I will explain below how to profit with it.

Feel free to experiment with the indicator’s different parameters to suit your preferences.

Download This MT4 Forex Indicator Free

Download the “auto-channel-indicator.ex4” Metatrader 4 indicator

Auto Trend Channel Forex Indicator Chart

Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.

You can apply the indicator to any currency pair and time frame of your preference.

Finding Buy and Sell Triggers With The Auto Trend Channel Forex MT4 Indicator

Below is an example of how to buy and sell currency pairs with this Forex indicator:

Buy Trigger: Open a buy trade order at the lower green trade channel line while the Auto Trend Channel indicator is sloping up (bullish trend).

Place a protective stop loss below short-term support, or use your own stop loss placement strategy.

Close the buy trade at the upper green trade channel line.

Alternatively, exit the buy trade for a fixed take profit target, for example, 12 pips on the 1-minute scalping trading chart.

Sell Trigger: Open a sell trade order at the upper green trade channel line while the Auto Trend Channel indicator is sloping down (bearish trend).

Place a protective stop loss above short-term resistance, or use your own stop loss placement strategy.

Close the sell trade at the lower green trade channel line.

Alternatively, exit the sell trade for a fixed take profit target, for example, 40 pips on the 1-hour trading chart.

Download This Forex Indicator Now

Download the “auto-channel-indicator.ex4” MT4 indicator

Adjustable Parameters

All bars, bars for Fractals, colors, width, style.

Usage

The indicator can be used as a stand-alone signals indicator.

It can also be combined with:

  • Trading oscillators (MACD, Stochastic, RSI,…)
  • Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
  • Price action methods and techniques

More Info About This Indicator

Tradable Currency pairs: Any

Trading Platform: MT4

Time frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: channel

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

Share Now!