Forex channels indicator, automatic construction of price channels

A fairly advanced indicator that allows you to simultaneously display several channels on the chart of a currency pair, each of which corresponds to its own time frame.

This approach makes it possible to easily analyze the dynamics of the trend in the long and short term.

Automatically building channels using the channels forex indicator will save you a lot of time and achieve more impressive results in trading.

The tool is distinguished by correct operation and easy setup; for it to work, you will only need to enter data for three time periods.

The lines that act as channel boundaries simultaneously act as unique price levels; this property makes it possible to use them when trading pending orders.

After installation, three price channels should appear on the screen of your terminal indicator channels, in which, for ease of perception, the resistance lines have a blue end, and the support lines have a red end. If necessary, all visual settings can be changed at your discretion.

In addition, the thickness of the lines is also different; it varies depending on the duration of the time period.

Setting features.

The length of the time frame is indicated in minutes, that is, to create a channel on the M30 time period, you should specify the number 30 in the range settings.

period1 – is responsible for the value of the shortest time period, and therefore the narrowest channel.

Period2 – second time range.

Period3 – width of the third price channel.

For the convenience of trading, it is advisable to indicate in the first case the lower time frame, in the second the one on which the work is carried out, and in the third option the higher time frame. In fact, the channels forex indicator is designed for trading using the three-screen strategy, but only in a slightly improved version with the construction of price channels.

This tool is quite universal and can be used in almost any Forex strategy of the trader’s choice.

From my own experience, I can say that the channels forex indicator shows excellent results in strategies such as scalping ( pips ), breakout trading, reversal trading, and some other options.

Download channel forex indicator.

Other, effective channels channels indicators for trading on the exchange