You can now download the Autotrend Channel Forex Support and Resistance for free on AtoZ Markets indicators gallery.
This Trading System is trend following. and is determined by autotrend channel. Use this system on a 30-minute timeframe or higher. This is applicable to any currency pairs.
- Spud Stochastic: ( composed by 19 Stochastic indicators);
- Autotrend Channel (setting 30 min, 60 min: 24 hours- 240 min 60 hours- daily 336 hours);
- Fib Pivot 3 (only for intraday trading wit time frame 30 min and 60 min).
- Swing Arrow.
How to trade with Autotrend Channel Forex Support and Resistance?
- AutoTrend Channel in the uptrend.
- lines Spud Stochastics is greater than 50 or 76.
- Open long position at the open next bar after a buy swing arrow.
- AutoTrend Channel in a downtrend.
- lines blue Stochastics indicators is less than 50 or 23.
- Open short position at the open next bar after a sell swing arrow.
- At the opposite arrow.
- Intraday Trading Fibo pivot is the good Profit Target.
- 25-30 pips profit target
- Swing Trading Profit Target Predetermined by time frame and currency pairs.
- Ratio 1.3 Stop loss.
- Initial Stop loss on the previous swing:
- for intraday trading after 18 pips in gain move stop loss at the entry price;
- for swing trading after ratio 1:1 move stop loss at the entry price.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on “Download Indicator” button located at the top right corner of the screen.
- Save the file to your computer.
- Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select “RSI Mean Reversion Forex Scalping Strategy” template to apply it on the chart.
Note: This indicator was developed by T. Morris. AtoZ Markets does not carry any copyrights over this trading tool.