13# Fibopivot Channel Strategy Trading System
Submit by joy22 14/02/2012
The forex indicator is used on timeframe to H4 main currency pair (All also Metals and Oil).
The main difference of this forex strategy from the strategy on the Pivot levels is that the orders open not according to the breakdown of R1, S1 (61.8%) levels and close according to the next levels.
Fibo channel 3
When the first candle starts forming at 00.00, the forex indicator draws levels on the following day.
If the candle starts (pay your attention on the beginning of the candle formation) forming above PivotLine, we open Buy position if previous bar of real MACD is green, put stop loss at level 61.8%(S1) below PivotLine, we put Take Profit at level 61.8%(R1) or (R2) above PivotLine.
If the candle starts (pay your attention on the beginning of the candle formation) forming below PivotLine, we open Sell position if previous bar of real Macd is red, put stop loss at level 61.8% (R1) above PivotLine, we put Take Profit at level 61.8%(S1) or (S2) bellow PivotLine.
If the candle opening coincides with PivotLine, we do not open the order.
If the candle opening is above the pivot line and the previous bar of the real MACD is red we do not open order.
If the candle opening is below the pivot line and the previous bar of the real MACD is green we do not open order.
The unique profit forex indicator Fibochannel for beginners and pro traders! Relying on its signals we will have a profit about 100-150% from depot per month.
The strategy forex system is easy-to-use. You do not need to know some nuance of the technical analysis to use this trade strategy. It makes the indicator more attractive for the forex beginners who wants to know Forex.
The indicator gives the forex signal for the opening of the deal once a day strictly at the same time. The only thing you should do is to open the deal at the given direction.
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