The Auto Trend Channel Forex indicator for Metatrader 4 draws the best buy and sell trend channels on the chart.
Buying and selling pairs with this indicator is simple and straight forward:
- Open a buy trade at the lower trend line when the slope of the Auto Trend Channel indicator is upwards.
- Open a sell trade at the upper trend line when the slope of the Auto Trend Channel indicator is downwards.
Take profit at the opposite trend line.
The indicator works for all time frames.
Free Download
Download the “auto-channel-indicator.ex4” indicator for MT4
Indicator Example Chart (EUR/USD M15)
How to trade with it?
Open a buy trade as soon as price touches the lower trend line and the Auto Trend Channel is sloping upwards.
Place a stop loss below the lower trend channel line.
Open a sell trade as soon as price touches the upper trend line and the Auto Trend Channel is sloping downwards.
Place a stop loss above the upper trend channel line.
Feel free to use your own favorite trading methods to open and close trades with the Auto Trend Channel Forex indicator .
Indicator Specifications
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: All bars, color settings & style
Indicator type: Trend channel
Repaint? Dynamically updated at the close of each bar to reflect the current trend.
Download Now
Download the “auto-channel-indicator.ex4” indicator for Metatrader 4
Usage:
Works for any trade style: scalping, day trading and swing trading
The Auto Trend Channel indicator for MT4 can be utilized as a standalone signals indicator or together with other technical indicators and price action for optimal entry and exit levels.
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the auto-channel-indicator.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.
