The screenshot above shows how the indicator will look on your MT5 chart. It also shows you how to spot a high probability winning setup. In addition, the Polynomial Regression Channel Indicator is recommended to be used in combination with price action/other technical indicators to increase efficiency.
The main trading principle is to open a buy/sell position when the price tends to the lower/upper band of the indicator. The ideal way to trade with this indicator is to wait for the price reaction (wick rejection) to the lower band and then form a bullish candle before opening a BUY order, for example.
You can refer to the screenshot above for a better understanding. In addition, you can track the stop loss after the price moves above (to buy) or below (to sell) the middle line of the indicator, and take profit on the opposite band.
The main trading principle is to open a buy/sell position when the price tends to the lower/upper band of the indicator. The ideal way to trade with this indicator is to wait for the price reaction (wick rejection) to the lower band and then form a bullish candle before opening a BUY order, for example.
You can refer to the screenshot above for a better understanding. In addition, you can track the stop loss after the price moves above (to buy) or below (to sell) the middle line of the indicator, and take profit on the opposite band.
