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- #65
- Edited 10:13am Oct 6, 2023 10:02am | Edited 10:13am
I decided to experiment with the method on this thread but trade it manually. I don't know what bp2000's MA settings are for the Price Action Channel, so I used 10EMA high/low, +3 shift, which are fairly common settings for a channel like this. Here's my first trade.
Basically my rules are to trade when a candle closes outside the channel (unless something obvious tells me not to). It assumes that anything outside the channel is in a strong trend, so as soon as a candle closes inside the channel it's weakening, and I will close the trade. Simple. I'm interested to see if I can make something out of this.
Basically my rules are to trade when a candle closes outside the channel (unless something obvious tells me not to). It assumes that anything outside the channel is in a strong trend, so as soon as a candle closes inside the channel it's weakening, and I will close the trade. Simple. I'm interested to see if I can make something out of this.
Another experimental trade on EURCAD H4. Entry on breakout from PA Channel. Exit will be when a candle closes back inside the channel (therefore no need for a fixed SL). That's it. No B/E, no trailing, no SL or TP.
The channel has the 5MA smoothed with shift+3 in grey and the 10MA exponential with shift+3 in yellow. Spot the difference? Amazing how close they are.
The channel has the 5MA smoothed with shift+3 in grey and the 10MA exponential with shift+3 in yellow. Spot the difference? Amazing how close they are.
- #74
- Oct 10, 2023 7:28pm Oct 10, 2023 7:28pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75
- Last Post: Oct 10, 2023 8:10pm Oct 10, 2023 8:10pm
- Joined Nov 2008 | Status: Trader | 50,260 Posts
{quote} When the PAC was first released there was no shift in the 5SSMA High-Low channel. But then the creator curved-fitted and introduced a Shift+1 check these posts: https://www.forexfactory.com/thread/post/3326592#post3326592 https://www.forexfactory.com/thread/post/13401950#post13401950 ...
To see multi-timeframes charts you can also consider FerruFX indicators and set up the charts to look like this.
FerruFX thread link :
https://www.forexfactory.com/thread/...ard-indicators (https://www.forexfactory.com/thread/418662-new-ffx-standard-indicators)
...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett