Indays Channel is a technical indicator. This indicator consists of two parallel lines. These two parallel lines work as a support and resistance levels. This indicator is a very reliable technical tool and professional money managers use this indicator to make money in the forex market. But to master this forex trading system you need to be highly discipline. You need to practice at least for 1 month on demo account before jumping into real account. The Indays Channel indicator is a very versatile trading system. This indicator can be used in many time frames and you can trade in many currency pairs.
When the indays Channel indicator is correctly installed in your trading platform, your chart should look like this:
- Indays channel
When we use this indicator we use this indicator to catch short term swings. We don’t wait for longer term pull backs and throw backs; we catch one single up swing or down swing. For that purpose, you should buy when the market crosses above all the channel lines.
Buying Conditions Using Indays Channel.
- Market should be up trending.
- Market should cross above all the parallel lines.
- Place your long position as soon as above conditions are met.
- Place your stop loss just below the recent swing low.
- Take your profit when the market crosses below one of the moving average.
Selling Conditions Using Indays Channel.
- Market should be down trending.
- Market should cross below all the parallel lines.
- Place your short position as soon as above conditions are met.
- Place your stop loss just above the recent swing high.
- Take your profit when the market crosses above one of the moving average.
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