These signals are as simple and reliable as possible, which makes it possible to recommend the described algorithm to novice speculators who are just getting acquainted with the foreign exchange market.
The AutoChannels indicator has a fairly high level of versatility, since the signals it generates retain an acceptable level of accuracy on almost any time interval and currency pair.
To download the AutoChannels indicator, use the link that you can see below.
Download AutoChannels indicator
AutoChannels indicator. Optimization
The installation of the described algorithm is simple. Even if you are a beginner and do not have experience with similar algorithms, this process should not cause any significant difficulties. After starting the described algorithm, a window with its parameters will appear in front of you.
The considered algorithm has the following parameters:
- “From-what-pint-the-data-analysis-begins”. This parameter is responsible for the moment from which the considered algorithm will start analyzing the trading chart.
- “The-number-of-bars-for-analysis-in-each”. In this field, you must specify the number of bars from history that the described algorithm will take into account in the process of performing all the necessary calculations.
- Channel-width-factor. This parameter is responsible for the thickness of the price channel lines.
- Accuracy-of-modelung-1-no-accuracy. In this field, you can specify the level of accuracy for creating the price channel.
It should be mentioned that the considered algorithm has a much larger number of adjustable parameters, but for its correct functioning it is sufficient to optimize only those indicated above. Due to the fact that the described algorithm has only four adjustable parameters that affect the peculiarities of its functioning, not only an experienced speculator, but also a beginner who is just getting acquainted with the foreign exchange market, can successfully cope with the optimization process.
Using the described algorithm to make money on the foreign exchange market is as simple as possible. You just need to transfer the described algorithm to the chart of the selected asset and optimize it. Then you should wait for the next signal to appear and create a position in the desired direction.
As soon as the price level of your chosen asset bounces off the upper edge of the price channel, you should create a sell position as quickly as possible. This trade should be closed after the price crosses the middle line of the channel.
At the moment when the price level bounces off the lower edge of the price channel, you should promptly create a buy position. It is recommended to close this deal after the price level crosses the middle line. The use of the described algorithm in conjunction with additional tools will significantly increase your chances of making a profit.
To learn how to correctly optimize and apply the algorithm in question, use a demo account. You can trade for real money only after you have accumulated the necessary experience and skills.