Breakout Strategies - Channel Breakout Strategy








This system uses a 4 hour, daily and weekly timeframe and applicable to all pairs.

Setup:

  • Calculate a 10-bar price channel of highs and lows.

Long Entry:

  • There must be a close above the top line of a 10-bar price channel.
  • There must be a new four-bar low within 10 bars of the breakout.
  • Buy on the next open.

Short Entry:

  • There must be a close below the bottom line of a 10-bar price channel.
  • There must be a new four-bar high within 10 bars of the breakout.
  • Sell short on the next open.

Exit Position:

There are various option in exiting a position. First is we enable a money management stop, a break-even stop, and a % Risk Trailing stop.
Second would be exiting a long position on a rally to a new eight-bar high and a short position on a decline to a new eight-bar low.
Take Profit at 60 pips on EU, 70 pips on GU at a 4 hour Time Frame.
For Daily time frame, take 200 pips for Eu and 250 for GU.

How to install Forex Channel Breakout Strategy?


  • Download Forex Channel Breakout Strategy.zip
  • Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
  • Copy tpl file (Template) to your Metatrader Directory / templates /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your forex strategy
  • Right click on your trading chart and hover on “Template”
  • Move right to select Forex Channel Breakout Strategy
  • You will see Forex Channel Breakout Strategy is available on your Chart

Click here below to download:

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