FREE DOWNLOAD – High Profits FXPASS Channels Breakout System For Independent Forex Trader. How to Trade Breakouts Using FXPASS Channels, CCI, and RSI. Just like breakouts on your face, the nice thing about breakout trading in forex is that opportunities are pretty easy to spot with the naked eye!
The easiest way to spot breakout opportunities is to draw trend channels.
Drawing trend channels are almost the same as drawing trend lines except that after you draw a trend line you have to add the other side. But in this trading system, we use FXPASS Channels indicator to draw channels.
The FXPASS Channels indicator plots two lines on a chart:
- one line is the highest high over a set period
- the other line is the lowest low over a set period
Now, why do we care about these FXPASS Channels?
This “High Profits FXPASS Channels Breakout System” is trend followers. General trend following systems looks for periods when support and resistance levels do not hold in the market.
Often when the market approaches a level of support of resistance, it will bounce back.
Occasionally, though, it will break through the support or resistance level and keep on going. When the market sets new highs or lows, it can be an indication that this is happening.
And here’s the good bit – FXPASS Channels Breakout System allows us to see these occurrences readily by the price on a chart penetrating above or below them.
FXPASS Channels Breakout System is a channel breakout trading method based on MetaTrader 4 indicators.
In this version, there is also as filter half trend indicator, CCI, and RSI. This a trend following trading system and strategy.
- Best Time frames: H1, H4, and Daily
- Recommended Currency Pairs: AUDUSD, GBPAUD, USDCAD, GBPJPY, and all Major Pairs
- FXPASS Channels
- CCI NUF
- Relative Strength Index
- Signal Trend
- Price rises above FXPASS Channels (above the 10-day high)
- HalfTrend Blue color
- CCI NUF Blue color histogram
- Relative Strength Index upward above 50 level
- Signal Trend Green color
- Price falls below FXPASS Channels (below the 20-period low)
- HalfTrend Red color
- CCI NUF Yellow color histogram
- Relative Strength Index downward below 50 level
- Signal Trend Red color
Why should Independent Traders use the FXPASS Channels indicator?…
The Independent Forex Traders needs easy and simple trading systems or indicators. The FXPASS Channels indicator is a relatively easy and simple technical indicator that only plots visually the 10-period high and low prices.
Based on the breakout from the high or low levels, traders can devise various trend-following or break out based trading strategies.
The fact that FXPASS Channels can also signal trends, they can be used with oscillators as well to time the market entry.