Breakout + Spread!! Sure!!!

Hey WHT,
Where can I snag the audio file for the breakout indicator. During the day I am pre-occupied do other research and sometimes miss the pop-up.

Thanks...Mike G

Wise words Bullrock .. It is indeed an approach thats been a long time around ...but it Works .. and ..with good design, can be reliably Profitable.

Big credit to Eagle for starting the thread and for his indicator.
I like it. Well designed. A good tool. Thanks.
and to WHTenn, BeachBum Skyline & all for some new intresting new angles.
With slightly tailored pair versions of this sort of system ...just today .. I counted clearly signaled entries to €$ +60/Cable +120/Loonie+70/GBPYen+170/€Yen+50/KiwiYen+50/$Yen+40and $6 in XAU all up for grabs. I think only the aussie came off the tracks. .. too much Fosters!! LoL..

This is an important tread.

Hi Mike, I have not retrieved the files yet. I have been tied up and watched the charts all last night and I am still up. My posting can verify that I have not been to bed yet. I plan to watch the video and learn more about the alarm, etc.

I like BeachBums 5 min chart suggestion.

Good News, I racked up on major pips...lol.

[quote=cliffedwards;too much Fosters!! LoL..[/quote]

I like your attitude!

Great results. Can you tell us which indicators you were using and now far back you tested

Madscalp

Can you also show us a picture of your chart you were using when you took the tests? This will help us coordinate the exact time frames for the breakout indicator you were using.

Thanks

OK my friends
I've just awaked (6:55 in France)
I prepare that quickly

Thanks for basktesting. Is that time GMT?

Is this a good sell signal or should the Stoch be turning down from a higher point

I use the Eagle'box and also differents indicators to filter the fake break out.
My beginning chart is a 15 M and my parameters are a classical moving average (200 EMA),
a classical parabolic SAR and a slope line for the trend.
The indicators : MACD 12.26.9 and Sto 5.3.3 and a great thing: the Bands Squeeze based from the Bollinger Bands.
Entry Rules: Buy if up break out and slope line green. MACD + is better but not necessary.
I look also for the resistant or support lines. If a resistant line is too much near, I don't trade.
I take only 15 pips (Eagle method)
Sell if down break out and slope line red. MACD - is better but not necessary.
If a support line is too much near, I don't trade.
I take only 15 pips (Eagle method)
I look also at Band Squeeze: if there are yellow bars and red line above,
there is a a movement in preparation (generally important).
When the red line cut the yellow bars,I check the others indicators to know the movement ( up or down )
and I take a position.
Pivot lines, resistant lines and support lines are also importants.
I check also the possible divergence ( only MACD ): it's always a very good indication.
So, there are many elements for the decision.
The main problem of this system is the hours settings beginperiod-endperiod.
So, I advise you to backtest differents hours settings for your preferred pairs.
Normally, good settings give a ratio W/L > 7 .

The following chart is interesting:

1/Eagle system: 21 pips possible (only 13 for me) - caution because the resistant line is near.

2/We see on Band Squeeze the red line cut yellow bars: at this time, it's difficult to determine the movement ---> waiting..
Then MACD decline to 0 and red bars appear on Band Squeeze: it's possible to short at the down break out (red slope line) or MACD = 0 :70 pips possible with down trend (only 58 for me).

3/There is a nice bullish divergence on MACD: 35 pips possible following up trend ( no on the chart but it's true http://www.forexfactory.com/images/icons/icon10.gif )( only 28 for me because TP fixed during the night)

Good trades, I think, but it's not always like that !

This is a synthesis of differents trading methods.

Best regards.

I would view this Sto signal as "OK", but certainly not as good as when the values are at extreme levels, bouncing from those levels and turning in the opposite direction. My expectations for a trade from this signal would be lower than if I was trading from an extreme level. Buying from extreme 'oversold' and selling from extreme 'overbought' levels usually is best. The net result is fewer trades, but better pip gain.

For this reason I look at all pairs that have a Euro currency in them (EUR, GBP, CHF) and choose the trade with the best setup using this method. Fewer trades, better quality trades, fewer losses, less drawdown and solid gains. I don't like 'overtrading'.

Thanks WHT. Please let me know when you have them.

Question???? I have Telsa Alert Indicator installed. It works great. Draw a line... attach "Alert_0" to it and when it triggers, it sends an email and makes a sound. Then the alert_0 is removed from the line.

In the Breakout Indicator Hapalkos added this capability. I turned it on last night and when the Box finished forming at 02:00 it put the Alert Lines on as it was suppose to. When the alert was triggered, instead of alerting and turning it off, it started looping with the sound. I had to turn the function off on the indicator to get it to stop... or ... delete the line.

Anyone have a fix or thoughts on this issue? I guess I can continue to draw the lines manually, but if I could get this to trigger ONCE and EMAIL once, I could some more sleep.

Thanks...

Mike G

This is a pic of my chart

Seeing Madscalp's BB Squeeze made me think of another BB Squeeze that I looked at to use on another system, don't know why I stopped using it, but it looks good with this system. Looks like both BB Squeeze's could help to prevent false breakouts, thought I would attach the other one here and a picture of my EurUsd chart today. Let anyone who wants to play with this one also.

Todays Chart - Using the BB Squeeze, the first three lines would indicate a false breakout, (Could have picked up your 10 pips on #3 if that is all you are going for with this system) however the fourth line the BB Squeeze says "Go For It" and proved to be quite profitable. I have looked back on using this on my charts for the last several days and it looks really nice.

DO YOU EVER SLEEP??

Really appreciate your contribution in so many areas of FF.

Thanks for this Thom.... I kills some of the whipsaw.... allot smoother entries.

Mike G

Hi,
Ive been away from this thread for some time. It has become a very long thread. Just to recap, is this the system eagle is using, or has it changed?
ON GBP/USD:

BUY each time price breaks high of 5am-8am gmt with take profit of 10 pips and stop loss of 15 pips.
SELL each time price breaks low of 5am-8am gmt with take profit of 10 pips and stop loss of 15 pips.

Has anyone backtested this? Please direct me to the post.
Is anyone using this on live account, how profitable have you been?

Thanks.

Thanks eagle for your great system. It's very simple and profitable
I takes me one day to read the whole thread

I want to ask about the original system,
1. London now is GMT+0 and My server time is GMT+2.
So london open is 10:00 am on my server time (GMT+2)
So i should set from 7:00 am till 10:00 in the indicator, right?

2. I found that we can have more than 1 breakout.
For example, The price breakout high 4 times.
So I have to make 4 open position? or just the 1st one?

Could u help? Thanks in advande

I saw a post earlier that you were a participant in and it was discussing trading out of your qualified money (ie. 401K and IRA.) Sorry to post the answer here on this forum but FF would not allow me to respond on that THREAD.

You can set up your individual 401k to trade 4x as long as your broker allows it and you have a trustee holding the money that deals with your 401K broker. I looked into this last year through Millinieam and FXDD but was not happy with the answer to my questions from either groups "tax experts" so I did not move my indivual 401K over to them. However, I do know based on talking with my CPA last year this can be done. He told me your Broker has to accept the Trustee and Fee's. I only found one at that time that would do so, but doesn't mean there are not others. Apparently not prevented by the IRS, I mean they let you invest your qualified $ in Real Estate, so why no FX. In other words, ASK YOUR BROKER.

Hi Eagle

Just came across your thread. I like it. Seems so simple, especially for a newbie like me.

Thanks for sharing it.

And thank you to all that have added to Eagles work.

Ozzibob