Free Forex Indicators (MT4), Trend Following Indicators
Price Channel Central Indicator
By Arun Lama
Published On
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 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
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.
