Autotrend Channel Forex Support and Resistance is a custom trend-following forex strategy formula that is calculated by a autotrend channel. You should use this trading system on a 30-minute timeframe or higher. Fell free to trade with any currency pairs and financial instruments of your choice.
You can download this forex indicator at the bottom of this post.
Forex MT4 Indicators involved in the system:
- Spud Stochastic: ( composed by 19 Stochastic indicators);
- Autrend Channel (setting 30 min , 60 min: 24 hours- 240 min 60 hours- daily 336 hours) (This setting is the core of the trading system: the secret);
- Fib Pivot 3 (only for intraday trading wit time frame 30 min and 60 min);
- Swing Arrow.
How to use the Autotrend Channel Forex Support and Resistance trading system with indicators:
Below you can find the trading rules for the Autotrend Channel Forex Support and Resistance.
Buy entry signals
- AutoTrend Channel is in an up trend.
- Spud Stochastics is greater than 50 or 76.
- Open a long position at the open next bar after a buy swing arrow.
Sell entry signals
- AutoTrend Channel is in an down trend.
- Spud Stochastics is less than 50 or 23.
- Open a short position at the open next bar after a sell swing arrow.
Take profit / exit position:
- At the arrival of the opposite arrow.
- Intraday Trading Fibo pivot is the good Profit Target.
- 25-30 pips profit target
- Swing Trading Profit Target Predetermined by time frame and currency pairs.
- Ratio 1.3 Stop loss.
- Initial Stop loss on the previous swing:
- For intraday trading after 18 pips in gain move stop loss at the entry price;
- For swing trading after ratio 1:1 move stop loss at the entry price.
How to install the Autotrend Channel Forex Support and Resistance on your Metatrader 4 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the Autotrend Channel Forex Support and Resistance files into following folder of your Metatrader 4 (MT4) platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the system.
- Right click on the chart and choose Templates and select autotrend channel trading system.tpl
- The system is ready and running on the chart.
Autotrend Channel Forex Support and Resistance Free Download
To download the Autotrend Channel Forex Support and Resistance for Metatrader 4 (MT4) for free just click the button below: