Introduction to the Star Profit Channel Indicator
The Star Profit Channel indicator plots on the charts a dynamic price channel.
That channel has three extensions for both upper and lower bands.
You can use these bands of Star Profit Channel to find your market entry points. Obviously, look for buy trade opportunities when the price hits lower bands, and similarly, look for sell trade opportunities when the price hits upper bands.
At first glance, you may think you can generate massive profits using that indicator, but you must be aware that it recalculates the signals.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed directly on the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Star Profit Channel indicator in MT4?
Copy and paste the Star-Profit-Channel.ex4 or Star-Profit-Channel.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Star Profit Channel indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Star Profit Channel Indicator Free Download
To download the Star Profit Channel Indicator for Metatrader 4 (MT4) for free just click the button below: