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What this price is waiting for?
No power: borders of the channel are the resistance lines and to break those lines so the price need the power.
Which power? Who is moving the price?
Good question. I know many jokes stories about it ...
To say seriously iI think this price is waiting for some news. Forex news event.
It will be USD PPI core soon. Forex-Tsd Calendar :: Calendars
When I was typing previous post so the main channel moved by borders. So, I understand it as the preparation for the breakout. But Maksigen channel (horizontal blue one) did not break yet.
What I am doing now? Why i am posting all those charts and images if we did not have any signal to enter (no signal from Var Mov indicator)?
I simple wanted to say that this channel trading system is not signal system. We need to watch the channels all the times. Can you imagine I traded 15 charts simultaniously? Sometimes I did not have time to switch from chart to the other chart ...
Because to use this system we need to monitor the price movement. It is not signal system.
DisplayLine=true.
DisplayText=true.
Currency Filter: all false except USD=true an JPY=true (because I attached this indicator to USDJPY chart).
Rating Filter:
MaxRating=3
MinRating=3.
Don't forget to "allow DLL import" in Metatrader nd in indicator's settings.
This PrceTrend indicator helps us to understand about the price. We know already that it is imposible to trade this system if we do not understand the price movement. So this indicator is helping a lot (it is EURJPY):
Blue line is crossing the yellow line: trend started.
It is uptrend in our case.
Blue line is crossing red line to go back - correction or exit. Exit from buy in our case.
Please note: this PriceTrend indicator is having MTF settings so this indicator is re-painted. Do not trade using this indicator and do not make final decision according to this indicator's lines. Use this indicator just as informational only.
Last edited by newdigital; 02-26-2008 at 05:09 PM.
So, in case of our USDJPY we should look at 2 or 3 places on the chart just to understand about what price is doing and what price is ready to do in the near future:
Linear Mode
