Quantum Super Channel

Trade style....
This is very much the original Quantum Entry/exit, but the channel may help some trade better/different.

See post #1 for updated indicator

Settings



Trade Opportunities with - SuperChannel = False. ShowChannel = True.

dweb RSI...under development... version 1 obvious, but there will be a twist (hopefully) when done...

Post #1 will be updated...This is a suggested trading style....

When the SuperChannel - False, and ShowChannel = True..The changes makes the Super channel Superb!!!

open trades...ticking clock
I am not letting go, if it puts food on the table...



Just prove of the above...open live trades....can be done!

noice

USDCAD...

1. I overlayed 2 x Quantum Super Channel (QSC)
++ the one QSC had default settings
++ The other had the SuperChannel = False, Channel Colours changed, HighDepth = 300, LowDepth = 100. These can be changed to the pair you are trading and serve here just as an example.

2. I overlayed on the chart a Bolinger Band, settings: Period = 55, and Standard Deviation = 2.7

Oberservation:
The QSC where the SuperChannel = False acts the same way as the Bolinger on the chart, although not entirely the same (trying to stop a debate here, LOL). Traders must choose whats suite them.


Chart where ShowChannel = False.


Clean Chart Preferred

GOLD...
The settings are important to get the right fit for the time frame... These are user defined, as our trading style(s) is/are different.

The Quantum Super Channel is built for the manual trader - I hope to mod it for EA. Now, just focused on application in market.
The Rule are simple (see post #1).
Use your own trading style/method. Examples listed on this thread is how I do it - Comment if you find it workable or not...that's the whole idea.

Tools: ( Less is more motto )
1. Quantum Super Channel - continuous development planned. many possibilities that will live up to the "super".
2. Strength meter. ( There are many CSM on FF, most, if not all have different flavours of measurement. Use the one that fits you)
3. dweb RSI (my own mod, still in development)
4. Lines...I draw lines like crazy... just to make sure I identify the direction correctly

Some ideas from Matt098:
1. Reduce the size of the lot
2. Stop-loss at right place - I use the channel lines to give guidance. A narrow channel = tight SL, A wide channel = tight SL or where the previous high/low was formed
3. Don't recede from trading plan
4. MM
5. Don't trade during NFP
6. Don't trade with a strong market volatility
7. Analytics

Money:
Small account = small target(s) = medium/high trade frequency.

Hope more novice/expert/experienced/whatever (lol) traders can share their experiences here...peace

Thanks Kmw. That example live trade will be the last published. Now I will just focus on refinement of manual method, and hopefully EA soon...Thanks for the visit!

There's also Renko Street Channel and SS Channel indis. I placed these on a graph with your Quantum Channel indi and they all align. How is Quantum Channel different from these? Just curious...

Thanks for the feedback san99.

I was referred to the Renko Street Channel, though not the SS Channel. However, you will find alignment in many indicators, up to a certain point, and that's why there are so many of them. The code in some ways are generic, hence alignment, but you will most cases find the authors have added some thing different - Quantum Super Channel is heading that way and changes are already implemented that will enhance the trading view if the novice trader. I applaud the expert who bring out brilliant systems. Systems work for some, and not for others - hence different approaches to trading - we are all fighting the machines whom we trade against. QSC is just another gun to shoot with, and hope fully more winning trades. It is far from finish, however the development path has been designed already...so here we go.

Traders must use what fits their style/methods, etc.

Cosmetic change to come....might upload tomorrow..let's hope

Think I must change the "Candle Bar Open" line to "Bull" or "Bear" and corresponding colour.



Pips display changed.
The pips display of the Channel Width and Bull/Bear Bar will function where SuperChannel = False, and ShowChannel = False...This may be useful to someone using other methods/systems.


SuperChannel = True, ShowChannel = True. The SuperChannel setting will influence which channel pips are measured.
The ShowChannel can be True or False.

v1.05a (see post #1)

The short horizontal line helps to de-clutter the screen. I am hoping to do more...

Distance from open: I will rectify in v1.06. It calculates from open to high channel line in stead candle open.
Channel Width: is the difference between the top and bottom channel lines
Bull.Bear Bar: looks at the close position in relation to open position of the current candlee, and calculates the difference between the bar close and top/bottom channel line pending the bar direction. ie, Bull bar will show difference between and bar and top channel line.

M5 chart

With Strength indicator you will get more confidence to let trade go, in the right direction.
++Use the elements in the channel to give you feedback
++Use the Channel info.

My trades today...

Thanks to input from Masterrmind, there are a few changes outstanding around the IB Alerts. Whats in v1.05b is useable...

My three today. The pipmeter score is a trade I'm in from friday, no probs

R&D...just a thought
NASDAQ

R&D.....GOLD, M5
Proprietary so cannot divulge but some effects may be build in dweb RSI and/or QSC

Hi Kmw, it is really nice to hear from you, and you are so welcome. I see you like USDCAD? can we work together to optimise trade method, etc on that pair?

Good pips in the sack!