Consistent & Accurate Breakout

Download New Indicators
https://www.sendspace.com/file/7cvuce
https://anonfiles.com/file/3fdafffbb43f7feb0a1b859f4dd922db

I want to share a method, that is not fully mine, but i have combined it with my own trading strategy and found out to be profitable. Its a set & forget daily breakout trading method

This will totally remove gut feel of trading since it is 100% rules based and i think everybody will benefit here. This also does not use indicators that hinder trading decisions. Keeping everything crystal clear trading. This system does NOT rely on news, fundamentals and technical analysis, Just fire the trade when you see it

First of all, what filter to use?
A weekly and monthly open line
(This serves as a moving average but DOES NOT Lag!, since Open lines are there and wont change)

TIMEFRAME: Daily Charts

TARGETS OPTION 1
STOPLOSS: 10 Pips
TAKEPROFIT: 5 Pips

TARGETS OPTION 2
STOPLOSS: 7 Pips
TAKEPROFIT: 7 Pips

PAIRS: This will work on all pairs! But use it on low spread:
EURUSD
GBPUSD
USDJPY
AUDUSD
USDCHF

SELL TRADE

  1. Sell 1pip below previous day low if current price is below weekly & monthly open lines

BUY TRADE

  1. Buy 1pip above previous day high if current price is above weekly & monthly open lines

CLOSING PENDING ORDERS
Close if not triggered on the close of the current daily candle.
The new close of the current daily candle will give new pending orders for the next day

Download New Indicators
https://www.sendspace.com/file/7cvuce
https://anonfiles.com/file/3fdafffbb43f7feb0a1b859f4dd922db

Hope to help traders!
-Waiting

Open Lines Indicator.zip (88.3 KB)

Everyone can tell their insights. We can post trades here and be active

Cheers

interesting system! would love to try this out

Why you don’t consider to open 1 pip (above/bottom) plus spread? I think in this kind of strategy (only 5 pips tp) spread has a big impact (obv my2cent)

Bye

Spread can be considered, but the 5 pips TP is easily achieved fast

:slight_smile:

Winning trade on AUDUSD

+5Pips

GBPUSD +5
EURUSD +5
AUDUSD +5

All wins
are my results correct?

yes, 3 trades all wins

Hi,
Interesting. Can you tell me, what time zone (or what broker) you are using for the start of the new day? GMT? GMT+1? NY time? Oh, and one comment about adding spread: adding spread would be a MUST if trading GOLD as the spread is usually around 5 pips so would eat your whole profit. Thanks!

Win On EURUSD

Win USDCHF

Win USDJPY

GBPUSD WIN

4 Trades

EURUSD +5Pips
GBPUSD +5Pips
USDJPY +5Pips
USDCHF +5Pips

nice results, same here

today we have

EURUSD Win +5
GBPUSD Win +5
USDCHF Win +5
AUDUSD Win +5
USDJPY Win +5

Hi waiting

Looks like an easy to use mechanical system. Thanks for sharing. Hope to do some demo with it soon.

Kiwiman

Why is there just the .exe file in the zip file - I for one don’t download and use .exe files without the source?

simple and easy!
for how long do you have this system in use?

maybe someone able to code an easy expert advisor for those who are not able to setup the trades by the end of each daily candle???

Hi waiting,

Thanks for sharing your system. :wink:

Would this strategy support a TP = 6, and a SL = 9? This small change would greatly reduce the winning % necessary for profitability.

Also, what is your broker GMT for the new daily candle?

Great trading!