Momods Open Canal Forex System
uses three Trendalt indicators with different bars count.
The buy signal happens when a canal is opened from the area under zero line to the area above zero. In other words, when all the three trend lines cross zero at the same time. The sell signal happens the opposite. All orders must be opened after the close of previous bar (at cross) and open of new one.
You exit the trade when any of the three trend lines reversed (crossed zero in opposite direction).
The system works on Any Pair, . You need to take Open and Close signals from the same .
If you opened the traded on H4 you need to close it on H4.
The system doesn’t need a stop loss as you will close the order on reversal of trend regardless if it is in profit or loss.
For safety, you can add 20-100 pips SL