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 the “Download Indicator” button located at the bottom.
- 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 the “Autotrend Channel Forex Support and Resistance” 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.