Price Channel Stop NK Indicator

Price Channel Stop NK Indicator

The Price Channel Stop NK indicator for MT4 optimal buying and selling zones in the forex market.

Categories: Trend, MT4, Signal

The Price Channel Stop NK indicator for MetaTrader 4 (MT4) is a trend reversal indicator that displays the optimal entry zone to buy or sell in the financial market. It is a beginner-friendly indicator for scalpers and day/intraday forex traders.

What is the price channel stop?
The price channel stop indicator is designed with algorithms that identify high-probability trend reversal zones and display it with a dot, otherwise known as the stop. It then creates a channel as the price increases in that direction, signaling trend continuation.

In addition, the channel line also acts as a dynamic support/resistance level, which may hold the price from breaking below or above during a short retracement.

How to trade with the Price Channel Stop NK Indicator

The above image is the Price Channel Stop NK indicator; it displays different buy/sell opportunities on the EUR/USD pair.

The lime-colored dot signals a potential bullish move, followed by a price channel line of the same color. Similarly, it displays a red dot to signal the beginning of a selling market, followed by a price channel line as the trend progresses. The red and lime dots are signals to sell or buy an asset.

Therefore, you may buy/long an asset when the lime-colored dot appears on your chat and sell when the red is displayed. The indicator’s dot also doubles as a trade exit signal. For instance, you may close a buy position when the red dot is displayed.

Furthermore, the use of price action/any technical indicators along with the indicator is recommended because it would help you to filter false signals.

Conclusion
The Price Channel Stop NK indicator for MT4 is a simple trend reversal detector that displays suitable buying and selling zones in the market. It forms a price channel after the signal, which depicts a trend continuation confirmation and also acts as a dynamic support/resistance zone.