Price Action Channel, “The Gold line” Trading System

Price Action Channel, “The Gold line” Trading System

Time Frame 15min

Currency Pair: Majors.

Forex Indicators:

5EMA High;

5EMA Low;

4EMA Median Price ;

Custom CCI (14) Candles;

Chandelier stops (15, 14, 4);

Chandelier Stops (8 , 6,2);

Arrow1;

All Pivots V.2.

Long Entry:

Setup Entry buy: Green Arrow, confirmed by Chandelier
stops blu (15,14,4-8,6,2) and
CustomCCI Candles green.

For Entry long wait that the price retrace on the gold line. (place an buy stop
order on the gold line).

Short Entry:

Setup Entry sell: Red Arrow, confirmed by Chandelier
stops red (15,14,4-8,6,2) and Custom CCI
Candles red.

For Entry sell wait that the price retrace on the gold line. (place an sell stop
order on the gold line).

Exit Position

Place Stop
Loss 4 pips below or above
the Chandelier stops (8, 6, 2).

Profit Target: on the level pivot or PT predetermined 14 pips EUR/USD, 11 pips
AUD/USD, 16 pips GBP/USD.

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  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window