Autotrend Channel Trading System” Forex trading system
This trading system is based on the principle of following the trend. The trend is determined by the channels using the “Autotrend Channel” indicator. The system is easy to use as the channels are drawn automatically depending on the timeframe. The minimum time frame used is 30 minutes. The system is suitable for all currency pairs.
The “Autotrend Channel” indicator is the heart of the system. It shows the main direction of movement
The main variable here is “Hours”, which shows how long the trend is defined. The default is 24 hours. This variable can be changed depending on the type of trade. In intraday trading, the value can be reduced, and in the medium and long term it can be increased. For example, 60 hours is recommended for four-hour charts, and 336 hours for daytime charts.
The system uses 2 more indicators. The “Spud Stochastic” indicator, consisting of 19 stochastic lines, clearly shows the entry points. The “Fib Pivot 3” indicator shows the beer line and support and resistance levels. It is intended only for intraday trading on M30 and H1 timeframes
The rules for buying are that the channel should be directed upwards, and the “Spud Stochastic” lines should be as close as possible and should be in the range from 50 to 76. To exit the deal in intraday trading, a good target is a beer line or a takeprofit at 25-30 pips. In a longer trade it is necessary to be guided by the “Spud Stochastic” indicator readings and approaching the price to the opposite boundary of the channel
The rules are the same for sales. Only the channel should point down and the “Spud Stochastic” indicator should be in the range of 23 to 50. The exit rules are the same
There are cases when the channel takes a horizontal position. It means flute. But you can benefit from that, too. Sell from the top of the line and buy from the bottom line. But here you should also follow the “Spud Stochastic” indicator readings.
In general, this system is easy to learn and interesting. It can be adjusted to any type of trading and trader’s preferences.
Download system files