Forex Envelopes Breakout Trading Strategy
Forex Envelopes Breakout Trading Strategy:
Envelopes Breakout Strategy is trading system based on envelope that are dynamic support and resistance built on moving average. There are more ways for to use this tool: breakout of the central line, grid dynamic trend-reversal, reversal trading. I show here the breakout of the central line that is suitable for day trading and for swing trading. I have added a trend filter to decrease false signals.
Time frame 5 or higher.
Currency pairs majors and minor.
Metatrader indicators setting
Envelopes, exponential, close ( 89, 3, 0.21),
Envelopes, exponential, close ( 89, 3, 0.34),
Envelopes, exponential, close ( 89, 3, 0.55),
Envelopes, exponential, close ( 89, 3, 0.89),
Envelopes, exponential, close ( 89, 3, 1,44),
Moving average 89, median (HL/2),
Trend indicator,
Gann 4 time frame adaptive smoother default).
Trading rules Envelopes Breakout Strategy
Buy
The price break upward and close above the white central line.
Trend 3 indicator green bar.
Gann 4 time frame adaptive smoother 3 green square.
Initial stop loss depends by time frame.
Make profit 2 pips before the yellow line or fast profit target that depends by time frame and pairs ( example 5 min time frame 7-12 pips).
Sell
The price break upward and close above the white central line.
Trend 3 indicator red bar.
Gann 4 time frame adaptive smoother 3 green square.
Initial stop loss depends by time frame.
Make profit 2 pips before the yellow line or fast profit target that depends by time frame and pairs ( example 5 min time frame 7-12 pips).
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 Envelopes Breakout Trading Strategy?
- Download Forex Envelopes 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 Envelopes 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”.
