ChannelSurfer

CHANNEL SURFER 1-MIN BUY-SELL 8/20-DONCHIAN-AROON-MFI INDICATOR

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NOTE:

False Signals can be avoided by never making a entry on the
shorter time-frames when the yellow 8/20 MA line is sloping downward,

On longer time-frames if making a entry when the 8/20 is sloping downward
be sure to set your stop-loss a little larger than normal.

Also can be used with any other TimeFrame from
2-Hour
To a 1-Minute for Scalping

WAIT FOR A SIGNIFICANT DROP FIRST OF 10-POINTS OR MORE

BUY SIGNAL = GREEN RISES & CROSSES YELLOW - On The First Chart - (8/20 MA - 1st Chart)
CONFIRM = PRICE IS "OVERSOLD VIA CANDLES HAVING BOTTOMED AND TOUCHED BLUE BOTTOM DONCHIAN CHANNEL . (DONCHIAIN CHANNELS - 1st Chart)
CONFIRM = RED LINE HAS DROPPED BELOW THE GREY CENTER LINE ( MFI             - 2nd Chart)
and / or
BUY SIGNAL = GREEN RISES & CROSSES YELLOW - On The Third Chart (AROON 3rd Chart)
CONFIRM = PRICE IS "OVERSOLD VIA CANDLES HAVING BOTTOMED AND TOUCHED BLUE BOTTOM DONCHIAN CHANNEL . (DONCHIAIN CHANNELS - 1st Chart)
CONFIRM = RED LINE HAS DROPPED BELOW THE GREY CENTER LINE ( MFI             - 2nd Chart)


SELL SIGNAL= GREEN FALLS & CROSSES YELLOW - On The First Chart (8/20 MA - 1st Chart)
CONFIRM = PRICE IS "OVERBROUGHT VIA CANDLES HAVING TOPPED AND TOUCHED BLUE TOP DONCHIAN CHANNEL . ( DONCHIAN CHANNELS - 1st Chart)
CONFIRM = RED LINE HAS DROPPED BELOW THE GREY CENTER LINE ( MFI             - 2nd Chart)
and / or
SELL SIGNAL= GREEN FALLS & CROSSES YELLOW - On The Third Chart (AROON 3rd Chart)
CONFIRM = PRICE IS "OVERBROUGHT VIA CANDLES HAVING TOPPED AND TOUCHED BLUE TOP DONCHIAN CHANNEL . ( DONCHIAN CHANNELS - 1st Chart)
CONFIRM = RED LINE HAS DROPPED BELOW THE GREY CENTER LINE ( MFI             - 2nd Chart)

DONCHIAN CHANNEL FUNCTION:
Donchian Channels function in a reaction to an action

If Price Tops Touching Top Blue Donchian Channel = Price Is OVERBROUGHT = Impending PRICE DROP
If Price Drops Touching Bottom Blue Donchian Channel = Price Is OVERSOLD = Impending PRICE RISE

NOTE:

Shown For Use With a 1-Minute TimeFrame./
A Trade may take 12 to 24 Hours.
When Using the 45-Min, 1-Hour, or 2-Hour TimeFrame.
Make Sure To set your Stop Loss
Before Entering Your Trade To Minimize
Any Loss Should The Market Go Against Your Trade.
A Stop Loss of 3 to 5 points below your Entry should be fine
When using on the longer TimeFrames.


BONUS:

Default: Turned Off
For ElliotTechnicians the STOCH RSI Light Blue Line can be turned on by clicking the Show/Hide for the STOCH RSI on the first chart, this actually draws the Elliot Flat Waves for you automatically, great way of knowing what comes next,

http://www.robertprechter.com/

http://www.elliottwave.com/info/#axzz2r9Zd30KO

Short Version (Crash Course - 4 Hour Read): http://www.elliottwave.net/educational/basictenets.htm
Short Long Version - http://elliottwave.com/tutorial/
Long Version (By The FirePlace Read) - http://issuu.com/elliottwave/docs/ewp2008-no-cover-unsecure

Prechter graduated from Yale University in 1971 with a degree in psychology. He served as the 21st president of the Market Technicians Association, and is a member of the Shakespeare Oxford Society and the Triple Nine Society. For more information, visit www.robertprechter.com.
Awards

Prechter won the U.S. Trading Championship in 1984 with a then-record 444% return in four months in a monitored, real-money options trading account. His publication, The Elliott Wave Theorist, won numerous speaking, timing and publishing awards during the 1980s, and in 1989, he was named “Guru of the Decade” by the Financial News Network (now CNBC). In 1999, Prechter received the Canadian Society of Technical Analysts’ inaugural A.J. Frost Memorial Award for Outstanding Contribution to the Development of Technical Analysis . In 2003             , Traders Library granted him its Hall of Fame award.


Happy Surfing / Trading,
Channel Surfer
Donations Accepted: 12sEPDs25Wt1Th8tduQMDhJiWWkX5CC58u
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