Forex Morning Breakout Trading Strategy
Forex Morning Breakout Trading Strategy:
Forex Breakout of the morning is a price action system fitered with the trend of the market.
Time Frame H1.
Box Breakout ( setting: 00:00, 8:00 GMT Berlin);
Filter (Trend Friend is a trend indicator that gives you three signals on multiple timeframes. It bases it’s recommendations on short and long moving averages and MACD. Indicator Signals are: MACD (12, 24, 6), EMA short ( 7, 14, ) EMA Long (34, 72).
Rules Forex Breakout Morning
First Entry 8:00-15:00
After the 8:00 of the morning GMT Berlin place two pending order: buy 1 pips above the higher of the box , sell 1 pips below the lower of the box.
Second Entry 16:00 21:00
Entry Buy if the price is above the box with trend filter that confirm the trend direction.
Entry Sell if the price is below the box with trend filter that confirm the trend direction.
Confirm the order that are agree with the trend filter.
Trend filter conditions for confirm the order:
for Buy time frame 30 min, 60 min and 240 min all arrows green up;
for Sell time frame 30 min, 60 min and 240 min all arrows red down.
First Entry 9-15, Second entry 16- 21.
Profit Target first and Secon entry :EUR/USD 20 pips GBP/USD 25 pips, AUD/USD 20 pips.
Stop loss first entry the opposite border, second entry 20 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 Morning Breakout Trading Strategy?
- Download Forex Morning 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 Morning 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”.