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forex channel trading Renko System
One of the primary rules of the FCT System is the need for price to trade into or through the red or blue channel zones. Once price trades into the upper red channel zone, or the lower blue channel zone, you are then eligible to start tracking for a trade entry signal. The upper red channel zone and above can be called the sell zone, and the lower blue channel zone and below can be called the buy zone. Price trading into one of the channel zones, or outside of the channel zones, sets up the initial qualification to for a possible trade signal.
As price trades into or through the channel zones we have our next requirement before we can have a valid trade entry signal. The FCT system requires a green candle close for a LONG trade signal and a red candle close for a SHORT trade signal.
For a BUY trade entry, from the blue channel zone or below, we must have a green candle close to trigger a trade signal. For a SELL trade entry, from the red channel zone or above, we must have a red candle close to trigger a trade signal. Once this basic criteria is met, for a BUY or SELL trade set up, then you can look to the lower indicators for final signal confirmation.
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| File Size | 2 megabytes |
| File Type | RAR |