Price Channel Central Indicator is equipped with variable support and resistance channel along with an effective trend defying Moving Average. This indicator is able to identify the trailing stop levels of the market trends and also guides through dynamic key areas of the market. It can be used for both trade entry and exit purposes.
Price Channel Central allows you to trade any forex currency pair you like from the asset lists of your MT4 trading platform. Furthermore, it can be applied to trade on all sorts of timeframe charts.
Price Channel Central Indicator Overview
Download Price Channel Central and install it on your MT4 terminal. Once you’re done, find your trading chart like the image below:
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Price Channel Central Indicator Explanation
Price Channel Central Indicator uses a 32-day Price Channel for identifying the market trend. In a general concept, price holds its position above the 32-day Price Channel means the market is in a bearish trend.
On the other hand, the price remains below the trend level signals for the bearish trend of the market. The upper band represents the Price Channel Resistance and the lower one as the Price Channel Support of the indicator. These levels assist traders to determine the best possible areas of entering the market and also guides through potential trade exit points.
Price Channel: Buy Conditions
- Price holds its position above the Price Channel Support level
- A bullish candle is plotted right above the 32 Price Channel
- Buy triggers after the above conditions are met
- Set stop loss below the Price Channel Support area
- Exit long/take profit whenever the price closes below the 32 Price channel
Price Channel: Sell Conditions
- Price holds its position below the Price Channel Resistance level
- A bearish candle is plotted right below the 32 Price Channel
- Sell triggers after the above conditions are met
- Set stop loss above the Price Channel Resistance area
- Exit short/take profit whenever the price closes above the 32 Price channel