I am trading during GMT day time and it is related to all the systams I am trading manually. Yes, I look at forex news events *especially on high impacted events) but not so much ... because this system is something about breakout and it may be related to news events too.
But I did not trade it for the long time ... if I forget something to reply so sorry.
Indicator Simillar to
Please members post your suggestions for indicators similar to super-signal channel. Non-repainting ones preferably
I need Non repainting channel indicators similar
Removed some compiler issues from the NonLag ZigZag indicator : nonlagzigzag_v2.01.mq4
Indicator was originally posted here : https://www.mql5.com/en/forum/173261/page16
Interesting EA (for MT5):
Advisor Flat Channel is built on the breakdown of the flat channel. When finding a flat channel or slowing the movement of the market, the adviser puts a pending order for breakdown. Stop is equal to two channel widths. Recommended pair EURUSD and timeframe M30.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2018.02.10 08:56
Interesting article was published yesterday -
The Channel Breakout pattern
The global market is an age-old struggle between sellers and buyers. Sellers want to earn more by selling at a higher price, while buyers are not willing to give their earned money and want to pay a cheaper price. According to the theory of economics, the true price is found at the point of equality of supply and demand. That seems to be true. However, the problem is in the market dynamics, because the volumes of supply and demand are constantly changing.
The struggle results in price fluctuations. These fluctuations form channels, which traders analyze to find market trends. In turn, these movements form fluctuations of a higher order. One of the first signs of trend change is the breakout of a formed price channel.
The very first test showed that the strategy is able to make a profit. The EA performed only 26 trades which resulted in 10 open positions during the tested period. 80% of open positions were closed with profit. This gave a smooth growth of balance. Profit-factor according to the testing results was 4.06. It is a good result.
Maybe we can revive the 5min channel trading system for Metatrader 5.
Please download the attached zip file containing the indicators and also template for MT5.
Rules of how to trade, chart examples and trade result can be found on this thread, start from page 8.
And this the original setup files for MetaTrader 4 which can be found here 5 min Channel Trading System
Chart example :