Forex Level Breakout Trading Strategy
Forex Level Breakout Trading Strategy:
Levels Breakout is a breakout strategy based on the dynamic support and resistance lines Levelsc 8 and 12. This strategy is for metatrader 4. The trading system is very simple with clear entries. Levels Breakout is suitable at volatile pairs. The main feature is that generates signals when the pairs is in trend with entries levels. the system behaves well in the lateral phases, avoiding many phases typical of a breakout system.
Time frame 60 min.
Apply this template to multiple currencies at the same time.
LevelsSC 8 default setting.
LevelsSC 12 default setting.
Moving average 13 period, close.
Trading Rules Levels Breakout
Buy
When appears an yellow or white buy arrow place an pending order at the level of the red cross, if the price does not reach the level within the yellow circle cancel the order.
Place initial stop loss below the red, after move stop loss.
Profit target is discretionary but an good is option ratio stop loss 1:1.
Sell
When appears an yellow or white sell arrow place an pending order at the level of the red cross, if the price does not reach the level within the yellow circle cancel the order.
Place initial stop loss above the red, after move stop loss.
Profit target is discretionary but an good is option ratio stop loss 1:1.
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 Level Breakout Trading Strategy?
- Download Forex Level 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 Level 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”.
