54# Dynamic Channel of Support and Resistance

Complex Forex Trading Strategy

Submit by Joy22 08/09/3013

This Trading system, is a reversal forex trading strategy based on a Dynamic channel Support and Resistance indicator written by Tinytjan in 2007 and pubblished on the http://codebase.mql4.com. This indicator is based on the Gaussian function.

This is not a trading strategy for beginners, but for traders with enough experience because at the same time we must consider the entry position based on volatility parameters, and the dynamics of the movement of the price. This is a Complex Forex Trading Strategy.

Forex Indicator

Spike bars indicator V.3,

Support-Resistence indicator,

Stochastic Cross Alert (3,2,2,),

Damiani Volameter,

Fx Trender (setting h1 oversold/overbought levels -0,45 , +0,45, setting h1 oversold/overbought levels -0,55 , +0,55).

For to install Dynamic Support and Resistance indicator before copy in the libraries folder the file Gaussian.mq4 (/libraries/OneSideGaussian.mq4).

Rules for Dynamic Channel of Support and Resistance

Buy

Stochastic Cross Alert Green Arrow is valid when it meets one of the following conditions:

1) green Spike bars and Damiani Volameter green line below gray line.;

2) green Spike Bars and FX Trender below leveles -0.45.

Sell

Stochastic Cross Alert Green Arrow is valid when it meets one of the following conditions:

1) red Spike bars and Damiani Volameter green line below gray line.;

2) red Spike Bars and FX Trender above leveles -0.45.

For an trading conservative trades only with the second condition( Buy :green Spike Bars and FX Trender below leveles -0.45 ; Sell: red Spike Bars and FX Trender above leveles -0.45.)

Exit position is discretionary, just remember to place the initial stop loss at the previous swing.

Happy Trading Joy22

P.S. This Strategy is also good for trading with Binary Options (cooming soon).