Profitable Dual ChannelBand System forex
Right here I shall current my Dual ChannelBand System. It’s extremely efficient, offers good entries and long term so you do not have to sit down in entrance of your laptop all day.
I encourage others to return in, check the system, and provide any enhancements, methods, or apply automation. Somebody who is sweet with Skilled Advisors is welcomed to automate the technique.
No off-topic conversations/discussions/buying and selling techniques or you can be ignored. Please don’t ask easy questions both like learn how to set up an indicator. Loads of different sources on this and different boards on how to do this.
Indicators are 2 keltner channels with default settings besides ATR and 2nd one’s foundation calculation (expontential). First ATR: sqrt(2). Second ATR: 1 / sqrt(2). See beneath
Keltner Channel #1 (inside):
Entry setup:
Enter LONG if candle closes above the higher band of inside keltner channel. TP: When higher band of outer keltner channel is hit by another candle following entry. Your TP might want to dynamically change because the outer keltner channels adapt. SL: Beneath decrease band of the inside keltner channel. Your SL might want to dynamically change because the inside keltner channel progresses.
Enter SHORT if candle closes beneath decrease band of the inside keltner channel. TP: When decrease band of the outer keltner channel is hit by any candle after the entry. Your TP might want to dynamically change because the outer keltner channels adapt. SL: Above higher band of the inside keltner channel. Your SL might want to dynamically change because the inside keltner channel progresses.
Suggestions/Tips:
I do not enter if the entry candle closes too distant from the higher/decrease bands of the inside keltner channels. It has to “kiss” the inside channel mainly and be near it however nonetheless shut above/beneath the channel for entry set off. Relying on the setup I would say the shut must be at most 5-10 pips away from the channel.
Put a bit of additional padding in your cease loss so its about 3-5 pips beneath the decrease/higher band of the inside keltner channel.
Good entries even have wider outer keltner channel bands so the TP is increased. I do not enter if the outer keltner channel is simply too near the inside keltner channel as that might yield a smaller hit.
I do not enter on very massive candles that shut above/beneath the channels in comparison with earlier candles. The entry candle must be moderately just like the earlier candles. So keep away from big purple button meltdown kind candles, even when they meet entry circumstances.
You should use this on any timeframe you need, however I like to recommend h1+
Pair sensible, I like to recommend you utilize pairs that pattern properly just like the Yen or CAD pairs.
See some entry setups on posts beneath.
