The Envelope Channel Breakout System
I don´t know anything about the process of how to show you an image of what I see or about posting mq.4 or tpl files. To enhance my knowledge, exact descriptions of the procedures one has to take are welcomed.
Okay, let´s start with number 3. The HAMA Pad.
The Key to Everything was the tool from MrTools HAMA T3_new_alert. I build my whole system around this wonderful formula in this Number 3.
The general rules are as always (including Number 2 and 1):
Break of the channel on the close and a part of the candle outside - BUY or SELL - but only within the longer term trend !
Coming back to Number 3 :
I have added several additional tools and leave it up to you to use them. Sometimes you have something better in your pipeline to evaluate the chart given.
I found these useful :
- The direction of the 50 SMA
- SuperWoodieCCI
- CMO_v1 and Anchored Momentum (on one graph)
- Envelopes Histo
-
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
I am surprised to have never encountered an "Envelope Channel Breakout System" after all this years til now.
If there are some and there should, I never heard of them.
Please share your knowledge.
The first I learned about wasn´t long ago and it wasn´t meant to be a "Envelope Channel Breakout System" in the first place. Thanks a lot to Chris29 and MrTools.
1. Synergy Thread
- I discovered the 5 MA Smoothed High and Low Channel and saw its merits
2. Drummond Geometry
- I found my way back to this awesome theory. But I got only two tools for MT 4 : the PLDot and the envelope to this.
For me it´s my favorite in the moment concerning the system idea.
3. HAMA Pad
- Somewhere someone in this thread spoke of a 20 EMA High and Low Channel, but this is false. There must be a big volatility input and a much lesser degree to EMA involved. - My two cents
All of the 3 give almost identical signals or did I miss something (perhaps time-frame-wise?) ?
(A part of the signal candle must be above or under the channel to give a signal)
Several additions have to validate the signal. I am working on that right now.
I never did any backtesting on systems and I eventually will not in the future. - Help apprecciated.
If someone of this great community could add something to this mix, I would be deeply honoured.
Nevertheless I will come up with some trading system along this idea in the future and I am open for all of your possible input as it would help everyone.
Keep up the good work,
Ray