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A Simple London Breakout

  • #1,021
  • Edited 11:30am Apr 20, 2016 11:04am | Edited 11:30am
No EA needed. London breakout is really straight forward. Trade all GBP pairs 2-3hrs into London session on 1H chart. Buy 30 pip at high break of 8am or 9amGMT candle and sell 30pips at low break of candle every day. Orders 5 pips grace each way and stops placed opposite ends of the chosen candle. Over 70% win simple strategy for compounding.
The breakout is rarely immediate and majority of the high or low for the day in GMT time can be found between 7am and 10am to which the market has usually stopped tormenting traders and has found its direction.
So to be clear place orders at 8am or 9am or place orders on both.Set and forget.
FREEDOM IS SECURITY.
  • #1,022
  • Apr 22, 2016 1:09pm Apr 22, 2016 1:09pm
I'm getting errors: "too many initializers" and "function must return a value" ....from Breakout EA?
  • #1,023
  • May 1, 2016 5:31am May 1, 2016 5:31am
Sorry guys but the London Breakout EA-V4.0.mq4 isn't an EA, is a script.
Any idea how this work?
  • #1,024
  • May 3, 2016 8:43am May 3, 2016 8:43am
Quoting mer071898
Here is a simple London breakout strategy based on a variation of my BoxFibo indicator from my ...."reliable" versions of them... (will retry 10 times at timed intervals if call fails). - when MagicNumber is 0, a unique MagicNumber is created by the EA, MagicNumbers will be different for each pair/timeframes. This helps running the EA on different pairs/timeframes without having to manually change the MagicNumber. - added Alerts when the Indicator Settings Global Variables cannot be found. The EA will stop trading in this case. - fix: in V3.0, objPrefix...

this is the error:
2016.05.03 14:41:42.349 2016.04.01 00:00 London Breakout EA-V4.0 EURUSD,H4: Alert: LB EA: EURUSD Some Indicator SETTINGS are missing;\n Please verify objPrefix in the Indicator and the EA;\n (objPrefix is currently set to LB- in the EA)


any idea?
  • #1,025
  • May 20, 2016 12:12am May 20, 2016 12:12am
Quoting hippiedog
No EA needed. London breakout is really straight forward. Trade all GBP pairs 2-3hrs into London session on 1H chart. Buy 30 pip at high break of 8am or 9amGMT candle and sell 30pips at low break of candle every day. Orders 5 pips grace each way and stops placed opposite ends of the chosen candle. Over 70% win simple strategy for compounding. The breakout is rarely immediate and majority of the high or low for the day in GMT time can be found between 7am and 10am to which the market has usually stopped tormenting traders and has found its direction....
Thanks for this. Do you mean place buy stop/sell stop above/below the high/low breaks? Also,where or how do you put your stoploss and take profit? Do you use trailing stop? 70% win rate is good enough.Regards,Mary.
  • #1,026
  • Dec 3, 2016 2:52pm Dec 3, 2016 2:52pm
Quoting hippiedog
No EA needed. London breakout is really straight forward. Trade all GBP pairs 2-3hrs into London session on 1H chart. Buy 30 pip at high break of 8am or 9amGMT candle and sell 30pips at low break of candle every day. Orders 5 pips grace each way and stops placed opposite ends of the chosen candle. Over 70% win simple strategy for compounding. The breakout is rarely immediate and majority of the high or low for the day in GMT time can be found between 7am and 10am to which the market has usually stopped tormenting traders and has found its direction....
Hi, I found this post , and I am wondering if you can help me figure out how to optimize a breakout strategy on GU using an Asian box 23.00 GMT to 9 a.m. GMT. Like you mention, SL for he buy stop is the sell stop and vice versa, and I am trying to figure out how to take advantage of the long runs of trend that one can get. my strategy goes both ways, so on some days where it reverses, one can a good run on the second stop order, which is a sinner, and that can moe than compensate for the loss.

Your strategy sounds like it is a fixed TP of 30 pips, is that correct? Mine is equal to the SL range. Please message me .
  • #1,027
  • Jan 6, 2017 2:26am Jan 6, 2017 2:26am
Hello, I am getting a "zero divide" error with the indicator. How can this be fixed? This applies to one particular index instrument only. All Forex pairs are working fine.
  • #1,028
  • Feb 27, 2017 1:30am Feb 27, 2017 1:30am
Anyone have EA with this method
Can share me, thank you !
  • #1,029
  • Mar 1, 2017 3:40am Mar 1, 2017 3:40am
i use my expert london breackout modifie..
Attached Image (click to enlarge)
Click to Enlarge Name: 2fd78dc80b5190473495869fb65fd78e.png Size: 50 KB
  • #1,030
  • Sep 5, 2017 9:30am Sep 5, 2017 9:30am
Does this thread stop here? Is the indicators correct to use?
  • #1,031
  • Jan 30, 2018 1:48am Jan 30, 2018 1:48am
Anyone on this thread ?
Attached Image (click to enlarge)
Click to Enlarge Name: Trading Result.JPG Size: 154 KB
  • #1,032
  • Jan 30, 2018 1:57am Jan 30, 2018 1:57am
Quoting vsine
Anyone on this thread ? {image}
Hi Vsine,
Is this statement based on the London Breakout Strategy or another system. Impressive.
Cheers
R
  • #1,033
  • Jan 30, 2018 5:04am Jan 30, 2018 5:04am
Yup, still cast the eye on it from time to time. Nice statement, well done.
  • #1,034
  • Jan 30, 2018 5:26am Jan 30, 2018 5:26am
Quoting RapzyFX
{quote} Hi Vsine, Is this statement based on the London Breakout Strategy or another system. Impressive. Cheers R
Yes.
  • #1,035
  • Jan 30, 2018 5:32am Jan 30, 2018 5:32am
Quoting vsine
{quote} Yes.
Manual or automated strategy?
  • #1,036
  • Jan 30, 2018 6:33am Jan 30, 2018 6:33am
Quoting vsine
Anyone on this thread ? {image}
Yes, I am. how did you trade this?
I have an automated strategy, but have nto traded it yet.
  • #1,037
  • Jan 30, 2018 7:03pm Jan 30, 2018 7:03pm
Quoting WhoDunIt
{quote} Manual or automated strategy?
Automated. Can't upload the set file. The error is "file type is not supported"
My VPS hung again. Not sure if I got stop out due to that. VPS is Virmach. Contract expiring in Feb. Sure I am going to discontinue with them.
  • #1,038
  • Apr 13, 2018 1:29pm Apr 13, 2018 1:29pm
Quoting vsine
{quote} Automated. Can't upload the set file. The error is "file type is not supported" My VPS hung again. Not sure if I got stop out due to that. VPS is Virmach. Contract expiring in Feb. Sure I am going to discontinue with them.
zip it first use winzip
  • #1,039
  • Apr 14, 2018 3:07am Apr 14, 2018 3:07am
Quoting vsine
{quote} Automated. Can't upload the set file. The error is "file type is not supported" My VPS hung again. Not sure if I got stop out due to that. VPS is Virmach. Contract expiring in Feb. Sure I am going to discontinue with them.
I use 7Zip for zipping and unziping files to upload to forumes you can find it here; https://www.7-zip.org/

May I please ask which EA you are using and where one needs to go to find the purchase information as well as any history for this trading Bot, thank you.
  • #1,040
  • Jul 13, 2018 9:01am Jul 13, 2018 9:01am
Quoting squalou
V7.0 version of the EA... You are not dreaming... Almost a year after the last posted V6.0 version, and after having moved to the "3 Tier" EA, i am giving you a new version of this EA... The reason is a request from Bert505 to add "SL pips" in the EA. The EA was setting the SL to the box extent, which is too far away in many occasions, where you would manually close the trade long before it hits the opposite box edge. So, here a version that will allow you to set your SL in pips ("SLpips" input) or as a Factor of the box size ("SLFactor" input)....

I am struggling with the all versions of LBO and not a single version is being loaded on the my charts. Moreover, when I test the EA in strategy tester it does not open any trade(s).

Can somebody here please let me know what is the problem. Or if somebody has any running copy of LBO please share it with me.

Thanks,
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