Forex Donchian Channel Trading Strategy with Super Signals Channel Indicator

High Accuracy Forex Donchian Channel Trading Strategy with Super Signals Channel IndicatorDonchian Channels has a simple plotting of highest high and lowest low of the last “n” periods.

The n periods is based on the trader’s choice, who can select the period according to their requirements ranging from a day, hour and minutes etc.

ReadHigh Accuracy Forex Simple Momentum Stochastic Oscillator Trading System

Traders use Donchian Channels to understand the support and resistance levels.

Forex-Trend-Channel-Indicator

How to trade the market with Donchian Channel Trading Strategy with Super Signals Channel Indicator?…

Super Signals Channel Indicator is the main key in this trading system but we can’t use the indicator alone. We need confirmation indicators to catch high portability signals.

  • Best Time Frames: M30, H1, H4, and Daily time frames
  • Recommended Currency Pairs: EURUSD, GBPUSD, USDJPY, and all major pairs

 

LONG Entry

Forex-Trend-Channel-BUY

  • Blue color BULLISH ARROW Super Signals Channel Indicator
  • Non-Lag 10 MA Blue color and above Blue color Non-Lag 21 MA
  • Trend Signal oscillator upward
  • CCI NUF Blue color bars
  • SFET V PODVALE Green color
  • Profitable Strategy 1 Green Color

 

SHORT Entry

Forex-Trend-Channel-BUY

  • Red color BEARISH ARROW Super Signals Channel Indicator
  • Non-Lag 10 MA Red color and below Red color Non-Lag 21 MA
  • Trend Signal oscillator downward
  • CCI NUF Red color bars
  • SFET V PODVALE Red color
  • Profitable Strategy 1 Red Color

 

EXIT Rules

Placing stop loss is easy: Just Place your stops outside of the channel lines. But your stop loss should be determined by the timeframe you are trading in.

  • If you are trading on 5-minute charts, place your stop loss 10-15pips outside of the channel line.
  • If you are trading in 1hr or 4 hr charts, you stop loss should be 20-50pips outside of the channel line.
READ  Forex High and Low Trading with EMA RSI Stochastic and MACD Indicator

HOW DO YOU SET YOU TAKE PROFIT TARGETS?….

Set your take profits to 3 times the amount your risked: for example, if you stop loss is 20 pips then set your take profit target to 60pips.

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