Step Channel

Hi everyone

I used to post my codes,systems,indicators,.... in mql4.com

but i decided to Start Posting in ff forum,

First of all i excuse if my english is not good enough,but i will do my best

Im gonna share a Trading system which i know will be usefull to new/old traders,
for new traders this will help them to know the market better,and for old traders it's just like an idea.

anyway here is the whole system:

this system has two kind of position,one is long term and one is short term.
it's really simple method,just you have to know what is the trend.

the long term positions will catch trend until last blood.and short term positions are usefull for those who wants to get in intraday

You will use H1 to identify trend and price retrace area,and you will use m15/m30 to enter the position

Trend:
to identify trend you should do this:
Bull Trend:
1-when the price is Above White line(Our main channel line)
2- MTF_Stepfilter is above the 40-50 level
3-channel has Stepped up success fully.
4-and trend line says it's an uptrend!

For bearish Trend these would be inverse,

You have to see all of these conditions,if you see some of them then it may be a Range ,or nonTrend

take a look at this pic you can understand what exactly im trying to say:
http://www.forexfactory.com/attachme...1&d=1338367483

below is the picture of the areas which is used to enter the positions,
for long term position you will use Red area ,and for short term position you will use Green area.
http://www.forexfactory.com/attachme...1&d=1338368161
Long Term positions:
Long position
after you identify The trend From H1 TimeFrame as bullish.

You have to wait until price retraces to area between two channel(area between 1st blue line and 1st red line)

in one method you can long when price touch the White line,but in other method which is very better you will use lower time frame to enter the long position,

after the price gets in this area you have to wait until MACD on lower TF gets a buy signal or you see a + divergence then you can enter the long

most of time i use free target for my long term position,or i will use a minimum 100 pip target

for stoploss i look to important levels from h1 and also the first red line of our channel, use an average stoploss between these levels,

the perfect signal is when you got a divergence or you see the macd buy signal in h1,m30,m15 timeframes.

Short position
inverse to Long position


examples
USDCHF H1
http://www.forexfactory.com/attachme...1&d=1338367737


the you switch to m30 and you can see the signal:
http://www.forexfactory.com/attachme...1&d=1338367737



Short Term positions:
first identify trend on h1 like the way i told you.
these position are like the Long term Positions but your area to enter the position is differ from Long term position.

Area to enter the short term position is between the first channel line and second one,
for entering the position you should switch to m15,m5 ,m1 time frame to enter the position.like the long term positions,


but there are many things that you have to know about the short term positions which i will post after you get used to system.

examples for short term positions.in this example price gets to first area of our channel in a bullish trend,

http://www.forexfactory.com/attachme...1&d=1338368161


for stoploss and takeprofit use channel lines.


Indicator settings

for indicator setting you have to enter stepsize and KV for each symbol you want,
i have attached an example of template you can use for Eurusd,

remember if you have StepMA already please download it again ,because i have modified it.

Remember: Attached Templates are for example on EURUSD, I will teach you how to config this system, You have to config it weekly
Green Pips to all of you

I tried to load the template and it keeps crashing my mt4. any suggestions?

if you know how to edit codes change this line in Channels.mq4


to


then compile the file

it maybe because your system has a low perfomance,and channels will be calculate for all Bars in your chart

Works fine for me, you probably need the latest build of MT4 (427)

yeah maybe that's the problem,but mine is 419

It has something to do with the MT4. I put it on a different one and it works now! Thanks can't wait to see how this works out.

The price is in the area for short term positions,short position

You have to wait for a signal of macd in m15 tf

I'm sure there's and indi which would allow you to have MACD for M15 and H1 on the same chart.

Yes im sure there is,i have wroted one myself,
but for entering the position you have to see the candles too ,levels of lower TF,....

it means easy and best way is to switch to lower tf.

you have to see what is the pattern of candles,is there any divergence in that time frame?....etc

Green pip to you

What do you mean by having to wait for a signal on 15m MACD? Do you only enter when there is divergence?

when price gets to any of those area i will wait for a good signal in lower time frame with MACD.

best signal is divergence ,but you can use macd CROSS signal too.

this is step by step what i do for short term and intraday positions,
first of all i will check the trend,and all of conditions must be exist

1- wait for price to get to area between the first and second channel line.
2- check the trend conditions again
3-switch to lower time frames like m15 and m5
4- check the pivots level
5-check important levels
6-wait for MACD to get you a signal
7-enter the position
8-choose sl with an average of important levels and channel lines
9- use an equal Tp as sl or higher
10....

the sell on eurusd has touched the tp

as you can see i have set important levels on my chart using 15min TF.
i waited for MACD to show me a sell signal
after that i short in that area with my sl on the 1.2466 and my tp on 1.2369

don't worry about the range markets,i will show you how to fight against that in real time

Please I cannot get my chart to look like yours. Could me indicate the settings for all the indicators in your template.
Thanks

i think You have to download history of chart From History center of MT4.

i have attached the same template and settings that im using on eurusd.
Maybe you are using a 4 digits broker,you have to remove one zero from stepsize.

hi kimitrio.

interesting system you have put together but when i tried to give it a try those lines are far far away from price action. and then i figure it out that becoz i'm using a 4digit mt4 broker. could you please up load the tpl for 4digit broker

tnks

Thanks,
Here is a template for 4digits broker.
I have attached to first post too

Here is an example of this system, The last position which hit our stop.Carefully look at the picture below:

http://www.forexfactory.com/attachme...1&d=1338548694
In this picture we have a short longTerm position. all factors have been confirming this position, and Trend is quite bearish.

As you can see this is what does happen:
price goes about 50pips in our direction but it failed to break our first channel line.price tried again to break channel line but it failed again.

If you see something like this there is a very high probability that the Trend has been stopped and maybe price is going to get in range or reverse the trend

if you hit the sl,don't worry ,when the trend is confirmed again you will recover that with first position,never and ever try to use martingale methods on this one!! never trade against the trend using this system


after you hit the sl wait until the new trend is confirmed and then start to trade using this system

the reasons that you can use to close your position before hitting sl:

1-bullish candles type are showing on the chart and you can see a new bullish trend line
2-the channel lines are no more stepping
3-MTF_Stepfilter is raising to up
4-in h1 tf and lower tf MACD shows a bullish signal same time that price hits the new bullish trend line
5-....

i have marked the candle you can close your position for sure before it hits your stoploss

http://www.forexfactory.com/attachme...1&d=1338548694

Price gets to our Longterm Area ,waiting for a signal from macd on m30 or m15 ,it is better to wait for a divergence in this area

Re your earlier post - being able to trade a ranging market is very important as I seem to remember reading a stat once which said that markets range 70% of the time. Don't know if that's true or been proved though.