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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.
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