How to trade using this indicator? What is the enter, exit and stop?
We may use the same technique with the
channel system. But for M5 and M15 timeframe. Stop should be outside the channel. Trailing may be 10 p every 5 minutes (on M5 TF).
I want to say that Paramon did not use any indicators. No indicators at all. Nothing. One or two years ago he invited the people to trade with him using real money and only few people could repeate his trades. Because he is not using any indicators.
He used the group movements.
1. USD/CHF, USD/CAD;
2. EUR/USD, GBP/USD;
3. EUR/JPY, USD/JPY.
If the pairs from group 1 are having the same direction, and pairs from the group 2 are in the same direction with each other but in opposite direction with the group 1 it means that we are having the good tendency on EURUSD. If pairs from the group 3 are going on the same direction it means the good tendency for JPY.
And he traded on the breakout of the channel. Mainly. By ticks. Very difficult to repeat his trades.
Some people created this is MaksiGen_KaHaJI_CkaJIneP indicator just to help each other with this system. So use this indicator to trade inside the channel.
Kimiv created an other indicator:
i-ParamonWorkTime.mq4.
Using this indicator you may adjust the time of trading according to the post above.