4 hour timeframe, breakout method

HI,

I have an interesting breakout method ,

it uses 30 ema , for trend

and when the open of the 4 hour is above the 30 ema we only buy, but it must go 15 pips from the open to show good price action , enter at the 15 pip area an exit on the close of the 4 hour candle with whatever it gives , sometimes 20 pips other times 40 pips

stop loss on the 4 hour candle close

sometimes it closes with a smaller loss say -5 pips

thats all there is to it

an indicator or EA would be great

but you can do this manually

12 pm candle chart time is 10 am gmt

trade that then trade the 2 pm candle thats 16:00 chart time

the open has to be above the 30 before you can enter long

open has to be below the 30 for short

Hi, can you explain more specificly the entry method using screenshot. I will code an EA when i correctly understand the concept !

its very easy

you need the open price above the 30 ema then you need price to move 15 pips from the open before you can enter

exit on 4 hour candle close

with 5 pips maybe or maybe 40 pips

it all depends on the price action

the EA would need to get the entry at 16 pips to be sureof fake outs

look at this screenshot below

its easy set up

EA would be great

can you make an EA ?

this method is great

do you fully understand it

you can use other pairs m

but i prefer to jus trade this on EU

2 opportunities a day if the open is below sell open above buy

so maybe you make 10 pips then 30 pips on the 2 trades that's 40 pips net for the day

You mean the open price of the day, or the H4 candle ?

This is a pine script indicator based on your strategy. You can choose the amount of pips needed btw open price to open the trade.

//@version=5
indicator("Bougies colorées selon conditions", overlay=true)

// Définir le nombre de pips
X = input.int(10, title="Nombre de pips", minval=1)

// Calculer la différence en pips entre la clôture et l'ouverture
pips_diffbuy = (high - open) * 10000
pips_diffsell = (open - low) * 10000

// Calculer l'EMA à 30 périodes
ema30 = ta.ema(close, 30)

// Condition pour une bougie haussière avec une augmentation de plus de X pips
// et un prix d'ouverture au-dessus de l'EMA à 30 périodes
condition_bullish = close > open and pips_diffbuy > X and open > ema30

// Condition pour une bougie baissière avec une diminution de plus de X pips
condition_bearish = close < open and pips_diffsell > X and open < ema30

// Peindre la bougie en blanc si la condition haussière est remplie
// Peindre la bougie en jaune si la condition baissière est remplie
barcolor(condition_bullish ? color.white : na)
barcolor(condition_bearish ? color.yellow : na)

can you just share the indicator , also does it take the trade for you ?

it must be 16 pips from the 4 hour open

this is a TradingView indicator. You can copy and paste it on TradingView pine script éditor

this is not placing any order, this is just an indicator

i need mt4 indicator

an EA would be good for mt4

Hi, I downloaded this indicator from the mt4 market, it can be useful

do you have the MQ4 ?

its not loading

hi a sample script

//@version=5
strategy("30 EMA Trending Strategy with 4H Timeframe", overlay=true)
// Input parameters
emaLength = input(30, title="EMA Length")
pipThreshold = input(15, title="Pip Threshold")
timeframe = input("240", title="Timeframe in minutes")
// Function to convert pips to price
pipToPrice(pips) =>
syminfo.mintick * pips * 10
// Calculate EMA
ema30 = ta.ema(close, emaLength)
// Get 4-hour data
[open4h, high4h, low4h, close4h] = request.security(syminfo.tickerid, timeframe, [open, high, low, close])
// Check if current bar is the beginning of a new 4-hour candle
isNew4hCandle = ta.change(time(timeframe))
// Strategy variables
var float entryPrice = na
var float stopLoss = na
var float takeProfit = na
// Strategy logic
if isNew4hCandle and open4h > ema30 and (high4h - open4h) >= pipToPrice(pipThreshold)
entryPrice := open4h + pipToPrice(pipThreshold)
stopLoss := low4h
takeProfit := close4h
strategy.entry("Long", strategy.long, limit=entryPrice)
strategy.exit("Exit", "Long", stop=stopLoss, limit=takeProfit)
// Plot EMA
plot(ema30, color=color.blue, title="30 EMA")
// Plot entry, stop loss, and take profit levels
plotshape(isNew4hCandle and strategy.position_size == 0 ? entryPrice : na, title="Entry", location=location.absolute, style=shape.circle, size=size.small, color=color.green)
plot(strategy.position_size > 0 ? stopLoss : na, color=color.red, style=plot.style_linebr, title="Stop Loss")
plot(strategy.position_size > 0 ? takeProfit : na, color=color.green, style=plot.style_linebr, title="Take Profit")