FREE DOWNLOAD Forex Binary Options Trend Channel Line Trading System and Strategy. Super High Accuracy trend channel trading with CCI and William Percent Range custom indicators. This Trend Channel System is just another tool in technical analysis which can be used to determine good places to BUY or SELL.
If we take the trend line theory one step further and draw a parallel line at the same angle of the uptrend or downtrend, we will have created a channel.
Both the tops and bottoms of channels represent potential areas of support or resistance.
To create an up (ascending) channel, simply draw a parallel line at the same angle as an uptrend line and then move that line to the position where it touches the most recent peak. This should be done at the same time you create the trend line.
To create a down (descending) channel, simply draw a parallel line at the same angle as the downtrend line and then move that line to a position where it touches the most recent valley. This should be done at the same time you create the trend line.
When prices hit the LOWER trend line, this may be used as a buying area.
When prices hit the UPPER trend line, this may be used as a selling area.
There are three types of channels:
- Ascending channel (higher highs and higher lows)
- Descending channel (lower highs and lower lows)
- Horizontal channel (ranging)
Trend channels are very useful tools in the Forex world as correct analysis can help you in correctly determining where your entry point or exit point of a trade should be.
Although regular trend lines are able to demonstrate the direction that the price is moving, trend channels allow you to clearly see where the currency is trading at that particular point in time in comparison to the overall trend and direction.
- Best Time Frames: H1, H4, and Daily
- Recommended Currency Pairs: EURUSD, GBPUSD, USDJPY, GBPJPY, and all Major Pairs
- Trend Channel
- Trend Signal
- Double CCI with EMA
- WPR Slow
- WPR Fast
- The channel is up (ascending)
- Prices hit the LOWER trend line of ascending channel
- Double CCI with EMA bullish
- WPR Slow Yellow color bars
- WPR Fast Yellow color bars
- The last candle was bullish candle
- The channel is down (descending)
- Prices hit the UPPER trend line of descending channel
- Double CCI with EMA bearish
- WPR Slow Red color bars
- WPR Fast Red color bars
- The last candle was bearish candle
When constructing a channel, both trend lines must be parallel to each other.
Generally, the bottom of the channel is considered a BUY zone while the top of the channel is considered a SELL zone.
- Like in drawing trend lines, DO NOT EVER force the price to the channels that you draw!
A channel boundary that is sloping at one angle while the corresponding channel boundary is sloping at another is not correct and could lead to bad trades.
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