Raff Channel Indicator
Raff Channel indicator best for MT4 forex trading using regression. Shows BULLISH and BEARISH trend direction and BUY and SELL signals. Free to Download
The Raff Channel Indicator for MT4 draws a trend channel with the midline as the first-order regression. The upper and lower lines act as support and resistance. So any price movement outside of the channel or at the channel lines warrants a reversal. So the channel extremes are the best entry points for a BUY or SELL trade. But, a sustained breakout of the channel lines indicates the reversal of the current market trend.
The indicator is simple to trade and is best suitable for both new and advanced traders. The indicator works on all intraday time frames and the daily, weekly, and monthly charts. However, the indicator may be used for trading multi-timeframe (mtf) forex technical trading strategy. Additionally, the indicator is free to download and easy to install.
Raff Channel Indicator For MT4 Trading Signals
The above EURUSD H4 chart shows the Ralf Channel Indicator for MT4 in action. The indicator shows the upper channel line in BLUE, midline in RED, and lower channel line in PINK. While the BLUE and PINK lines are the channel boundaries the RED line shows the trend. An ascending RED line shows a BULLISH market trend while a descending RED line indicates a BEARISH price trend.
Price at the extreme channel levels is the best entry point in regression forex trading strategy. So forex traders can BUY at the PINK line with stop loss at the previous swing low. While targeting the opposite channel line for a profitable exit.
Oppositely, on a BEARISH market, the BLUE line is the best entry point to place a SELL trade. Traders can place a stop loss at a previous swing high and exit at the lower channel line.
The indicator provides the best results in a multi-time frame trading strategy. So forex traders can apply the indicators in multiple charts and follow a top-down trading approach. As a general rule, the BULLISH or BEARISH trend in a higher time frame indicates the lower time frame trend direction.
Raff Channel Indicator For MT4 Multi-Indicator Trading Signals
The above EURUSD H4 chart shows multiple instances of indicators, one with a higher number of bars and the other with default settings. Forex traders can follow the direction of the higher number of bars and identify the best entry points in the lower number of bars.
Conclusion
The Raff Channel Indicator for MT4 is a standalone trend trading indicator. Since the best entry points are at the extremes it provides few trades which are effective and successful. However, for best results traders can combine with additional indicators and confirm the BULLISH or BEARISH trend with higher time frames. Moreover, the indicator can be downloaded for free and installed easily.
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