Forex Channel Kill Breakout Trading Strategy
Forex Channel Kill Breakout Trading Strategy;
Time Frame : 1H, 4H, daily and weekly.
Currency Pairs :all.
Setup channel breakout
a) Calculate a 10-bar price channel of highs and lows.
Long Entry Position Channel breakout
a) Check for a close above the top line of a 10-bar price channel.
b) Check for a new four-bar low within 10 bars of the breakout.
c) Buy on the next open.
Short Entry Position Channel breakout
a) Check for a close below the bottom line of a 10-bar price channel.
b) Check for a new four-bar high within 10 bars of the breakout.
c) Sell short on the next open.
Exit Position
a) We’ll enable a money management stop, a breakeven stop, and a % Risk Trailing stop.
b) We’ll also exit 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: 60 pips EUR/USD, 70 pips GBP/USD 4H Time Frame, for Daily time frame 200 pips EUR/USD , 250 pips GBP/USD (recommended)
In forex a trading strategy is a fixed plan that is designed to achieve a profitable return by going long or short in markets. The main reasons that a properly researched trading strategy helps are its verifiability, quantifiability, consistency, and objectivity.
For every trading strategy one needs to define assets to trade, entry/exit points and money management rules.
How to install Forex Channel Kill Breakout Trading Strategy?
- Download Forex Channel Kill Breakout Trading 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
- Load indicator on your chart
How to uninstall Forex Channel Kill Breakout Trading Strategy?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.
