Forex Correlation Breakout Trading Strategy
Forex Correlation Breakout Trading Strategy;
Correlation Breakout is trend breakout trading system based on an indicator of correlation of currency pairs, this shows the correlation between 8 currencies.
Time frame 15 min, 30min or 60 min.
Currency pairs: EUR,GBP, AUD, CHF, USD, NZD, CAD, JPY, XAU.
S-B levels,
Exponetial moving average 50, low, close,
Exponetial moving average 50, high, close,
RSI (14, period, close),
Correl8 (correlation between 8 currencies).
Trading rules Correlation Breakout
Open 4h or daily chart and see what ‘s the direction of the trend if trend is up, trades only buy, if if trend is down, trades only sell.
Buy
Trend up time Frame 4H or daily.
Price above the 50 EMA high,
Correl8: Green line above royal blue line.
Sell
Trend up time Frame 4H or daily.
RSI <50;
Price below the 50 EMA low,
Correl8: Green line below royal blue line.
Exit position
Place initial stop loss c 5-10 pips above/below the entry bar.
Exit at the levels of support or resistance.
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 Correlation Breakout Trading Strategy?
- Download Forex Correlation 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 Correlation 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”.
