The Ruff Channel indicator MT4 draws a trend channel with the middle line being the first order down. The support and resistance lines are the upper and lower lines. Any price movement not within the channel or not at the channel line will result in a reversal. The poles of the channel provide the best entry points for buy/sell trades. However, consecutive breakouts of the channel line are a sign of a market trend reversal.
The indicator is easy to trade and is suitable for novice and experienced traders. The indicator can be used on intra-day, daily, weekly and monthly charts. The indicator can be used to trade Forex technical trading strategies with multiple time frames. The indicator is also free to download and easy to install.
The best entry point to return to forex trading is at extreme channel levels. Forex traders can buy at the pink line and stop at the previous swing low. For a profitable exit, you can aim for the opposite channel line.
Conversely, in a bearish market, the blue line would be the best place to enter a sell trade. The stop loss can be placed at the high of the swing and the trader can exit at the lower end of the channel.
Two types of indicators: one with a high number of bars and the other with default settings. Forex traders can determine the best entry point by following the direction of the bar with the higher number of bars.
Conclusion
The independent trend trading indicator, Ruff Channel Indicator MT4, is a stand-alone indicator. Since the entry points are the most extreme, it is difficult to find trades that are both profitable and effective. To get the best results, traders should combine other indicators. The indicator is available for free download.
