Trend Following Indicators, Free Forex Indicators (MT4)
Channel Surfer Auto Trend Line
By Arun Lama
Updated On
Channel Surfer Auto Trend Line is a price action-based trend-following indicator. It simply relieves the hassle of looking for trend channels and drawing them manually in the charts on a regular basis.
It doesn’t matter which time frame you use or which forex currency pair you pick for trading, this Trend Line fits everywhere. Thus, traders of any kind can be benefited from this dynamic trend channel indicator.
Channel Surfer Auto Trend Line can be used alone to carry out daily trading operations. However, you can add other trend-following indicators along with this handy tool to extend the accuracy of the trade signals.
After the installation of this Trend Line at your Forex MT4 terminal, your trading chart will appear like the following image:
Channel Surfer Auto Anatomy:
Upper Channel: This line connects the swing highs of the market to project the future dynamic resistances of the market. This is the ideal place to go short if price fails to break and move above the Upper Channel.
Mid Channel: It works as the heart of the whole trend channel. Price holds above its level indicates the continuation of the bullish move. Conversely, the price stays below its level validates the current bearish thrust of the market.
Lower Channel: It connects current swing lows of the market to define possible future dynamic support levels of the market. Price holds right above its level and bounces upwards means it is time to long.
I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.
Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
i am using this and it works great!
Hy could you please teach me how this strategy works
Thayou for this. Its amazing. Making money is easy now. I was searching for a good auto channel indicator for a long time. You have done a great job.
how to dowenload for MT5?
Thank you for quick answer!