The Channel Trading Signals Metatrader 4 indicator is a moving averages bundle that comprises of three MA’s which automatically plots some form of buy and sell channels around price bars.
The indicator can be deployed in assessing trend continuation with the premise that when the lines stays somewhat below/above the candlesticks, bulls/bears market is said to be continuing respectively.
Finally, all types of traders can rely on this awesome technical to enrich their market experience.
Key Takeaways
- In a bit to fully understand how things unfold in the market, pay more attention to how the lines of the Channel Trading Signals indicator position themselves in relation to price.
- The lines of the Channel Trading Signals indicator tend to crossover in a manner that depicts trend reversal.
- Meanwhile, one of the moving average line that represents the Channel Trading Signals indicator runs along with price, while the pair of lines is seen to be smoother and crosses the former in a bid to determine trend.
Feel free to explore the Channel Trading Signals indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “channel-trading-signals.ex4” Metatrader 4 indicator
Channel Trading Signals Forex Indicator Chart (NZD/CHF H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Channel Trading Signals MT4 Indicator
Buy Signal: Go long when the smoother pair of lines of the Channel Trading Signals indicator crosses below the smooth line segment to position somewhat below the candlesticks.
When the MACD indicator prints silver histograms above the 0.00 horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when the smoother pair of lines of the Channel Trading Signals indicator crosses above the smooth line segment to position fairly above the candlesticks.
When the MACD indicator prints silver histograms below the 0.00 horizontal level, it is a sell signal confirmation
Exit buy trade: Close all buy orders if while a bullish trend is running, the line pair of the Channel Trading Signals indicator intersects its smooth MA line counterpart. Else, exit the buy trade when the MACD indicator prints a silver histogram below the 0.00 level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the line pair of the Channel Trading Signals indicator intersects its smooth MA line counterpart. Else, exit the sell trade when the MACD indicator prints a silver histogram above the 0.00 level.
Tips: For better visualization of market trends, users can modify the predominantly default olive colored lines into a combination of colors.
The Channel Trading Signals indicator offers scalpers, day and swing traders more opportunity to hit it right with price action.
Download This Forex Indicator Now
Download the “channel-trading-signals.ex4” MT4 indicator
Adjustable Parameters
Warning, alert options, play sound, send email, show message, system settings, spacebase, bufferplus, start trending, xindi period, setone, breakeven rate, quick profit, expand rate 1, set two, start at pips profit 2, expand rate 2, set three, start at pips profit 3, expand rate 3, line thickness, channel green line, channel red line, ma yellow line, ma green line, ma red line.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M15, M30, H1, H4, D1, W1
Indicator Type: Trend
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
