Description: The trend channel indicator generates forex signals based on the current trend.
Use the indicator on the hourly timeframe and above. Yellow channel means sell and orange channel means buy.
How to use the indicator?
Go long as soon as the orange trend line appears on your charts. Place your stop loss 3 pips below the orange line and trail your stop loss 1 pip below the line to lock in your profits. Use the same technique for short trades (yellow trend).
File Name: chanel scalper .ex4
Metatrader 4 Screenshot:
EUR/USD Daily Chart
Features: Works on currency pairs, buy and sell signals, easy to trade, free licence, Metatrader 4 ready.