Super Signals Channel Indicator for MT4

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.

Super Signals Channel Indicator for MT4 Overview

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.

Super Signals Channel Indicator for MT4 overview

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.

Super Signals Channel Indicator for MT4 explanation

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.

Also Read: XM Review – An Extensive Forex Broker Guide

Super Signals: Buy Conditions

Super Signals Channel Indicator for MT4 buy signal
  • The price hits the lower Super Signal Channel band and refuses to break below the support
  • A bullish candle appears rejecting the channel support
  • The indicator plots a green arrow to signal a buy order
  • Exit the buy order after you find a red arrow near the higher band

Super Signals: Sell conditions

Super Signals Channel Indicator for MT4 sell signal
  • The price rejects the higher band and refuses to move above the resistance zone
  • The price plots a bearish candlestick pattern near the dynamic resistance
  • Open sell order after the indicator displays a red arrow
  • Exit short when the Super Signal Channel plots a green arrow.

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I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

3 thoughts on “Super Signals Channel Indicator for MT4”

  1. 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”

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