The purpose of this strategy is to limit the negative influence of the variability of the bars that occur in forex. This variability of the bars makes the trading in forex, very complex and difficult. The Nibiru MT4 trading system works on every currency pair and we recommend using it for 30 min or higher.
How to use Forex channel reversal trading system
Forex channel reversal trading system used a strategy based on four indicators which signify buying and selling signal. It uses an indicator named Adaptive Laguerre Filter look 20, median 5 TMA band modified (half length 56, Band Deviation 2.5), Special Awesome modified and Double CCI with EMA: trend period 70, entry CCI period 30, SMA1- 30, SMA2 – 5, SMA3 – 2.
Buying signal: When the price close below the lower band wait that the price came back above the Laguerre filter, SMA1, SMA2, SMA3 of Trend CCI above the aqua line and the awesome histogram above the SMA line then place the initial stop loss below the lower band.
Selling signal: When the price close above the upper band wait that the price came back below the Laguerre filter, SMA1, SMA2, SMA3 of Trend, CCI below the aqua line and the awesome histogram below the SMA line the place initial stop loss above the upper band.
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 of the post.
- 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 "NAME_template" to apply it on the chart.
Note: This indicator was developed by third-party. AtoZ Markets does not carry any copyrights over this trading tool.