Forex Tunnel Breakout Trading Strategy
Forex Tunnel Breakout Trading Strategy:
This another Box Breakuot Strategy. The box 1 green color is formed in the Asian session. You can get in position by the London session and session New York, even if the session Newyork there is no rectangle drawn. The Box breakout in this forex breakout strategy interacts with the tunnel indicator set in order the time frame of 15 min. The tunnel indicator shows trend. Only trade in the direction of the trend. When the rectangles are formed in the tunnel, not to trade, or if you go trade with fast profit target.
Time Frame 15min.
Metatrader indicators:
Asian breakout box V.5;
Tunnel Indicator (risk model 1, Ma1 144, MA2 169).
Rules for Tunnel with Box Breakout V.5 Trading System
Buy
Place a Buy Stop order 5 pips above the rectancle powder blue. Exit using MACD indicator or profit target.
Sell
Place a Buy Stop order 8 pips below the rectancle powder blue. Exit using MACD indicator or profit target.
If during the London session there was the breakout or there was a false breakout, you can enter the session New York.
Profit Target 40-55 pips: example USD/CHF, AUD/USD 40-45 pips, EUR/USD 50 pips, GBP/USD 55 pips USD/JPY 40 pips.
Place initial stop loss 30 pips after 30 pips in gain move stop loss at +10 pips.
When the rectange is formed in the tunnel indicator and and you decide to trade the profit target is 10-15 pips depending on the currency pair.
The advantage of using the tunnel indicator is that it can filter out more false breakout.
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 Tunnel Breakout Trading Strategy?
- Download Forex Tunnel 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 Tunnel 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”.
