Best Forex channel indicators

One of the most popular trading methodsis channel trading. Once the necessary skills are acquired, it can be very successful. At the same time, an important component of profitable trading is the competent construction of channels. For beginner traders, this is sometimes a difficult task. channel forex indicators can help to solve this problem. They’re in the MT4 trading terminal. Besides, you can find such tools of market analysis in the network, if you want. However, as practice shows, most traders use several time-tested channel indicators in their trading. In this article I want to give you an overview of the most popular indicators for trading in the channel.

NB-Channel

This indicator builds Barishpoltz channels. He uses fractals for that. The first line is drawn on the two nearest fractals. The second line is drawn parallel to the first one through the opposite fractal. There’s a middle line between them. As the market situation changes, the channel lines also change. The trade is on the way out of the lines inside the canal. NB-Channel works on any TF and trading instruments. However, the best result can be obtained by applying it at higher time intervals.

Bollinger Bands

Bollinger Bands also belong to the category “channel indicators of Forex“, which are actively used by traders in trading systems. They can be found at MT4. Bollinger Bands is represented by three lines (moving averages), two of which form a channel, and the third is the middle line in this range. Transactions are opened both for rebound from the channel lines and for their breakdown. To increase the efficiency of trading, you can use the modification of BB – Sigma Bands. Its advantage is its advanced settings, which allows you to get more information about the market situation. 

AutoChannels

This indicator is in demand by traders because of its universality and accuracy. It builds channels using all timeframes. However, for its correct operation it needs a rather large amount of historical data. If the quotes in MT4 for the traded instrument are not sufficient, they should be loaded. Otherwise, AutoChannels will not work.

ChannelsFIBO

If you trade on channel strategies, I recommend you to pay attention to this indicator. He’s building a channel on Fibo’s levels. At first, the largest price shift from the moving average is determined. The main channel is built on these values. And then additional lines are drawn, which are determined by the Fibonacci numbers.

The Forex Channel Indicators that I suggested in this article have proven to be effective trading tools. First of all, make sure you do it yourself on the demo account. After that you can include the selected analysis tool in the real trading system.25.07.2018