Channel trading system - page 30
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Very New on the blog
Hi NewDigital, (or anyone else who care to answer
)
I'm very new to forex, so I have a lot of 'stupid' questions, - sorry.
I've set up a chart from the provided template and indicators (post #8) and replaced High_Low v2 (zigZag) with NonLagZigZag_v2
I have read all the thread but still trying to figure out how to read those indicators.
Would someone care to try to explain how to read one indicator of a time?
Then I would, perhaps, be able to understand how to combine them.
I've attaches a picture for eventual reference.
Thank you so much in advance.
PixieHouse
Trading improved Channel Trading system for M5 timeframe.
Yesterday's breakout.
I traded exact this system for M5 timeframe:
Indicators ad so on - see the link on the first post of this thread or o this post https://www.mql5.com/en/forum/173261/page17
The trades were managed by EMATrailingStop_v1.4 EA from this post https://www.mql5.com/en/forum/175843/page2 with the settings as EMAPeriod = 25, EMAshift = 5, InitialStop = 100.
You can see the red colored line on the image above? so it is the line for stop lossed to be moved by EMATrailingStop_v1.4 EA; I am using it just for visuality to see when and where the stop loss value should be moved as it is moved strictly according to this line as MA indicator (standard indicator in Metatrader), Period 25, Shift 5, MA Method exponential, Apply to close. It is fully related to the settings of this EMATrailingStop_v1.4 EA. Just to see how stop loss is moving by this line.
I am trading 14 pairs but few pairs only had breakout yesterday (4 digit pips):
EURJPY: +46 pips;
GBPJPY: +94 pips;
USDCAD: -20 pips;
USDJPY: -108 pips.
Statements attached.
------------
I am thinking to improve it slightly to trade in particular market conditions only. Let's see what we can do. Having some ideas for that (I will post when it will be ready).
Updated statements for today.
+110 pips for 2 days (4 digit pips) trading 0.01 lot size.
Nothing was closed manually: EMATrailingStop_v1.4 EA managed all the trades.
NewDigital
First of all thanks for this system,looks nice of 5m.I tried using it but I failed to get a bottom violet bar,see the picture and tell me what is wrong at my end thanks.
Channel Trading system for M5 timeframe was improved by indicators.
Please find improved indicators and template in attachments.
What is template file? Read this thread https://www.mql5.com/en/forum/178706
To make it shorter: unzip attachments, place all indicators to indicators folder (for example: C:\Program Files\Interbank FX Trader 4\experts\indicators), place template file in template folder (for example: C:\Program Files\Interbank FX Trader 4\templates), open Metatrader, open M5 chart, right mouse click on any place on the chart and load this template.
This M5 breakout system is the same one. Just indicators were improved only:
Old indicators are on this post: https://www.mql5.com/en/forum/173261/page6
All the links - first post of this thread.
Just for information.Press zoom out in Metatrader.
Please help with RSi Filter
Well this seem very interesting scalping system, will test it next week.
Hello New Digital, thumbs up!!!
Please can anyone paste here the RSI filter indicator used in channel trading system. Would be highly appreciated... Thanks
Ya worked!Silly me really.
Press zoom out in Metatrader.
Hello New Digital, thumbs up!!! Please can anyone paste here the RSI filter indicator used in channel trading system. Would be highly appreciated... Thanks
The indicator is inside the attachments on this post: https://www.mql5.com/en/forum/173261/page17
Thank you for your system.