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Sunday, 04 December 2022
The Best Way to Trade Forex Fractal Channel MT4 Indicator
The Best Way to Trade Forex Fractal Channel MT4 Indicator

The Best Way to Trade Forex Fractal Channel MT4 Indicator

Watch the testing video here:

The Best Way to Trade Forex Fractal Channel MT4 Indicator

The Fractal Channel MT4 Indicator will help you boost your profits with real-time support and resistance levels. The most important items in trading are price action followed by volume, which creates support and resistance on the chart. Traders know that support and resistance is extremely important and yet most traders see it in hindsight. Unless you can figure out a way to use hindsight to make money, which is impossible because the only thing that counts in trading is real-time the Fractal Channel MT4 indicator is a special indicator that gives you real-time support and resistance.

The second thing that the Fractal Channel MT4 indicator is useful for is for stop loss and trailing your SL as well. Whether you’re doing automated trading to manage the exits of your trades or whether you’re doing discretionary trading to manage your exits to know where your stop loss should be, the ideal placement is based on support and resistance instead of some arbitrary levels that mean absolutely nothing to a technical chart.

 

The Best Way to Trade the Forex Fractal Channel MT4 Indicator

The third thing the Fractal Channel MT4 indicator is good for determining the risk from the entry point to the stop loss tells you how much are you going to loss of you’re wrong, and you can use that value to calculate the correct position sizing so that you have a standard risk.

Fractal Channel MT4 Indicator Settings

 

The Fractal Channel MT4 indicator doesn’t have any variable as it determines the real-time support and resistance level through its own proprietary algorithm. The only customize variables are the support and resistance colors and the preferred inputs are red for support or the lower channel border and blue for resistance or the upper channel border.

Fractal Channel MT4 Indicator Strategy and Trading Rules

The Fractal Channel MT4 indicator can be an additional tool to your existing strategy as it will help you fine tune the current support and resistance levels. The Fractal Channel MT4 indicator is a universal indicator that can be used on any time frame and on any currency pair. The preferred time frame to implement this strategy is the 15-minute chart.

We only want to enter the market at extreme levels because that’s when the odds of winning are greater and in this regard, we’re going to enter only when we see a breakout above/below the Fractal Channel. The premise behind this strategy is that eventually the market is going to revert to the mean. Without further ado, these are the buy/sell entry rules:

  • Buy Signal: Entry long at the first 15-minute candle that breaks and closes below the red line using a static stop loss level of only 20 pips and take profit at the blue line resistance level;
  • Sell Signal: Entry short at the first 15-minute candle that breaks and closes above the red line using a static stop loss level of only 20 pips and take profit at the red line support level;

 

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