Free Forex Indicators (MT4), Trend Following Indicators
Super Signals Channel Indicator for MT4
By Arun Lama
Published On
The Super Signals Channel Indicator is a channel-based forex trading indicator, developed for the MetaTrader 4 users.
This indicator uses a dual-band channel which is quite effective for exploring true price support/resistance levels. These levels are plotted based on short-term price changes. According to our review, the super signals channel is a good fit for 15-minute timeframes.
Its channel is a non-repaint indicator that reacts more with recent price movements. For this reason, the Super Signals Channel Indicator is a better match for short-term or day trading strategy.
The Super Signals Channel only plots swing trading opportunities. So most of its trade signals appear during consolidation or sidelined periods of the market.
Super Signals Channel Indicator for MT4 Explanation
The green band below the price shows the dynamic support level. This indicator only plots a buy signal when the price clearly rejects the lower band.
For instance, a bullish pin bar with a long tail and rejecting the green line. The green uppish arrow below the dynamic support indicates a buy signal.
We’ll look for a sell setup when the price gets closer to the higher super-channel. In that case, the price needs to plot at least one bearish candlestick pattern before confirming a sell order.
Thankfully, you don’t need to spot the candlestick patterns by yourself. This indicator automatically detects the signal candles and uses the arrows to confirm an order.
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.
This indicator repaints……… got me all excited for a second….. :( Please actually test indicators properly before doing a write up on them saying “Its channel is a non-repaint indicator”
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.
Not Repaint…Repaint for 7-8 Candles!!!
This indicator repaints……… got me all excited for a second….. :( Please actually test indicators properly before doing a write up on them saying “Its channel is a non-repaint indicator”
Yes, this indicator repaints, but it can be helpful with other indicators. It works ok for me.
What the other indicators are you using it with to make it working?
this indicator is see of future..