MAChannel Close Levels Indicator: Trade on a Flat Break
MAChannel Close level indicator is a channel of two moving averages and is designed to filter signals of crossing muwings during a flat.
The channel boundaries can be displayed with two types of lines:
- Solid line - a support or resistance level is formed, which is not broken;
- Dotted line - the level is broken, the price begins to form a trend in the appropriate direction.
When the level is broken and the next candle is formed, the MAChannel Close indicator displays a message about a change in trend.
According to the experts at fortrader.org, MAChannel Close indicator, in combination with the oscillator, can be an additional element Breakout trading strategy. The indicator can be used for scalping and pipsing when properly configured.
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