PriceChannel_Signal_v1.2 indicator https://www.mql5.com/en/forum/173249
I am using this indicator personally for H4 and D1 timeframe technical analysis and sometims for trading.
And last link for today.
Brainwashing manual trading system and Brainashing EAs.
Author of the EAs coding is Beluck.
System based on PrceChannel indicator and iTrend indicator.
Author of almost all the indicatos from this thread and so on - Igorad.
thanks everyone for your input
It is H1 timeframe with
- PriceChannel_Stop_v6 (ChannelPeriod=10; Risk=0; Signal=1; Line=1; ColorBar=1; TimeFrame=0; Nbars=1000) and
How about, if the bars were under channel or above channel?
is still valid to use the PriceChannel_Stop or we should wait until the price
between the Pchannel band?
If the bar is under PriceChannel_Stop_v6 indicator's line so this line is in red color. If above so line is blue color.
Blue color is for buy, red color is for sell (just in general understanding). Big dot of PriceChannel_Stop_v6 indicator is the signal to open the order (buy or sell depends on the color). Other lines is just for stop loss or tailing stop.
If course it is more comfortable to trade between the bands ... but when I traded Brainwashing latest version (with bands) so I used it just for orientation to understand to trade or not.
looking at the price channel in the past it makes sense. but going into the future it doesn't seem to draw itself right. There can be a big false signal if you're basing that on your trade and volitility.
here's what i mean.
what is happening now.
and what is happening after it redrew the graph
Interesting question. I assume you'r using the one attached on first post right?
yes. the first one seems to be redefining the channel. i placed a practice trade thinking it was the bottom, but apparently it wasn't. when i refresh the graph it makes sense again.
Yes u right man, should use this price channel with other indicator...