Trading with Price Channels

 

When placing a trade in the market, professional traders always include a plan for managing their risk. One traditional method for setting risk levels is through the use of technical indicators. In previous articles we discussed using ATRand the PSAR indicator exactly for this purpose. Today we will examine another method of trailing stops using a custom pricing channel.

DNC (Donchian Channels) is a custom indicator that can be added to Marketscope 2.0 that can be used to establish initial and trailing stop levels on a trade. The indicator is designed to display the current high and low for a specified number of periods. Typically a setting of 55 or 20 periods is used for this purpose. Traders that prefer wider stops should opt for a higher DNC setting while, lower settings offer tighter stop entries.

 

Can you post some links to advanced level PA tutorial videos?

 
krelian99:
Can you post some links to advanced level PA tutorial videos?

I don't think he has them

 
mladen:
I don't think he has them

but now for Krelian satisfaction and demand,he will have to try to scratch out some thing,no matter it work and useful or not.

 

i also look for the same if he knows he must share

 

I always do this. Trading with candlestick is the best way of trading, I believe. It's all over internet that Price Action is the solid and most flexible way of trading to earn numerous profit

Reason: