Channel trading is one of the most popular ways to make money in the Forex market. And today I would like to offer you the Price Border indicator, which will help you make the right trading decision. Its algorithm uses another channel indicator – TMA. I told you about him in one of the articles. We set the Price Border by
the usual pattern. In the chart, this analysis tool is presented as three lines: channel boundaries and balance lines.
Indicator parameters
I’ll start with the basic settings, from
which may depend on the efficiency of the indicator.For the purpose of setting
timeframe, you should use the “TimeFrame” parameter. In this case, if you specify All tf, the signals will be formed for
A TF that’s a trader. And if you point out, say, 60, what kind of
the chart has not been opened indicator readings will correspond to the hourly
Timeframe.For the selection
The “HalfLength” parameter must be used to determine the optimum channel width. The more of it.
the value, the wider the channel. And vice versa. Price parameter
is designed to select the algorithm of the price to be applied in calculations (price
opening, closing).ATRMultiplier
и
ATRPeriod is
coefficient and period ATR.The rest of the parameters concern the alarm notification. You can activate a function that notifies the trader when the price touches one of the channel boundaries. It can be an audible alarm or a pop-up message.
Various applications of the indicator in trade
If the channel is located horizontally (flat), the deals
are opening up from its borders. So when you touch the top line at the price of the top line.
the sales are considered, the lower one – the purchases. To login you need to get
any evidence of a price reversal. It could be, like, a candlelight
pattern. The trend in the market is evidenced by the slope of the channel. In this one…
in the case of trade orders are opened in its direction. If the channel is rising.
Buy, sell, sell, top-down. Buy deals are opened near the bottom line, or at
to reach the price of the balance line. Sell deals are opened near the top line or from
balance lines. The Price Border indicator can be successfully used in scalping. However, in this case two indicators should be set on the chart: for the working and senior TF. For example, if you trade on M5, you need to set channels with parameters 5 and 15. The stop-loss is placed at the nearest extremum, and the profit is fixed at the opposite border of the channel of the large timeframe.The market analysis tool I have told you about today is very easy to use in trading. Still, it should not be used immediately in real money trading. First of all, it is necessary to make sure the efficiency of the indicator on a demo account.Price_BorderDownloadFyodorov’s Inga08.05.2019