This system uses EMAs as a trend identifier and determines support and resistance levels.
Exponential Moving Average 30 Period
Exponential Moving Average 150 Period
Exponential Moving Average 200 Period
Exponential Moving Average 365 Period
EMA 30 helps in identifying trend. Usually when the price retraces to the EMA 30 and then bounce, it indicates strong trend.
EMA 150, EMA 200, EMA 365 helps identify support and resistance levels. Usually it identifies strong support and resistance.
Breakout strategies can help you acquire winning trades and there can be 2 reasons.
First, you are trading with the trend. There is a big chance of winning when you are trading with the trend.
Though the trend is your friend, we must also be careful. It is recommended that you follow the money management, risk management just to be safe. So, Identify entry where you will risk less and profit more.
A breakout point gives us that entry point.
This makes breakouts one of the best entry systems you will ever use.
Entry Signals and Stops
Identify trendlines and double tops. Trade during breakouts of these indicators.
How to install Four Hours Forex Breakout Strategy?
Download Four Hours Forex 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 Four Hours Forex Breakout Strategy
You will see Four Hours Forex Breakout Strategy is available on your Chart