I've been demo and live trading breakouts of the fractal channel for about the past month. Results have been pretty good so I thought I'd start a thread about the method and see if anyone is interested in it.
The method is really simple and all you do is buy when price breaks out of the upper channel line and sell when it breaks the lower channel line. I've attached a chart of what I mean as well as the fractal channel indicator I use and another indicator that only shows the last fractals.
Currently I'm only trading this on the EUR/USD 5 min. charts but I was hoping if anyone follows this we can work on trading different pairs and different time frames. As well as tweaking some things and making this a little more discretionary than mechanical.
The next post will show the entry and stop loss rules as I use them now. Once again any suggestions or questions are encouraged and lets see if we can get a good system going here.
Thanks,
trublu
The method is really simple and all you do is buy when price breaks out of the upper channel line and sell when it breaks the lower channel line. I've attached a chart of what I mean as well as the fractal channel indicator I use and another indicator that only shows the last fractals.
Currently I'm only trading this on the EUR/USD 5 min. charts but I was hoping if anyone follows this we can work on trading different pairs and different time frames. As well as tweaking some things and making this a little more discretionary than mechanical.
The next post will show the entry and stop loss rules as I use them now. Once again any suggestions or questions are encouraged and lets see if we can get a good system going here.
Thanks,
trublu
Attached File(s)
Fractal_Level_Xrust.mq4
6 KB
|
9,263 downloads
FractalChannel(2).mq4
2 KB
|
9,626 downloads