Double Channels Forex Support and Resistance Strategy
You can use this system to any currency pairs and works on a 1 hour timeframe. Never ever use on lower timeframes.
Forex Indicators:
- Nonlagdot(20)
- IBFX-Waves.ex4
- Supertrend
how to set the channels :
- 1st channel : draw/drag the equidistance channel line from A to C then put the other channel line on B
- 2nd channel : draw/drag the equidistance channel line from B to D then put the other channel line on C
- Draw the horizontal line on A, B, C, D and all (i really mean All) channel line crossover to set the R/S line.
- Set your supertrend and nonlagdot to 20.
Buy Entry:
- Supertrend and nonlagdot have the positive color could be blue or green depend on your color set
- Target Profit is next SR line. You can use neared grid line to SR line.
- Exit Position: supertrend or nonlagdot change to negative color red or depend on your color set or new price open below the support line.
Sell Entry: opposite from buy condition.
Recommended MT4 Broker
XM Broker
- Free $50 To Start Trading Instantly! (Withdraw-able Profit)
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Award Winning Forex Broker
- Additional Exclusive Bonuses Throughout The Year
- Exclusive 50% Cash Rebates for all Trades!
Already an XM client but missing out on cashback? Open New Real Account and Enter this Partner Code: 𝟕𝐖𝟑𝐉𝐐
Click here below to download: